Hi there queries on deeds and charges

[jaccovs]

I have a 2nd charge on my property placed by a company in 2012 as backup for the director in case anything ever went wrong however the company went in to liquidation over 2 years ago, what happens to my charge?

[Amethyst]

I think that depends what "backup for the director" means. Was it security for a personal guarantee on a business loan that the charge was put on the house ?

[jaccovs]

thank you so much for your reply, yes i suppose in a way it was security. The other director had liquidity and I didnt so we put it in place in case he lost money. we then went our seperate ways and two years later he decided to liquidate. This is now done and company was desolved in august 16 but I still have charge.