Legal Charge not removed from property after sale

[Billydog1]

Hi - I have just recently moved home in the UK.I had a mortgage and two charges on the property I was selling. My Solicitor asked for thee details and I gave him the details of both, both with lloyds bank. The house sale went through six months ago and the mortgage was paid off with the sale proceeds, the charge was missed, I assume by both the buyers solicitor and my solicitor. The house I moved out of is still in my name with charge still showing. The new owners are not aware of this as their lawyers have not yet tried to register the sale. Please advise situation. Do i still have to pay this money ?If so how can it now be enforced ? It is approaching £100K

[echat11]

des8 MIKE770 Can you please take a look and advise, many thanks.

[des8]

worrying that both solicitors have missed this.

I would assume your solicitor gave an undertaking to the purchaser's solicitor that all charges would be removed.
He will have to stand by this, and doubtlessly will attempt to recover it from you.
It might be embarrassing for him, but I suspect his PI insurers will pick up the tab initially and then, in his name, seek repayment from you.

Note "I assume" & "suspect"

[MIKE770]

as des says this is an area they have failed to act , not uncommon by so many lacking full knowledge, PI insurers probably kick in? (but you are vulnerable )

[Billydog1]

Many thanks for your advice. Is it worth me trying to negotiate with the Bank or do you think they will stand firm. I assume that any action from solicitors insurers and attempted recovery from me would be very protracted and messy.

[des8]

I personally would do nothing at this stage, except perhaps have a short consultation with a solicitor not involved.
You might get this for free, or certainly at a fixed fee.

My own view is that you will be approached for the £100,000.
If you are in a position to pay it, do so at that point.
If not a claim will probably be made against the solicitors by LLoyds and sorted out by insurers.
The insurers will then approach you for reimbursement.
If you don't pay the insurance company might well take action against you to recover their money.
You might then have a claim against your solicitor for negligence, but it would not cover the £100,000
You might have a defence of "change of position" in that you fully expected your solicitor to deal with the conveyancing properly, and you assumed that he would have automatically paid off the charges. (altho' it might be difficult to explain how you were unaware of being £100,000

But all that will take time, and might not be the way things develop

[Billydog1]

Many thanks. Lloyds are asking for the money now, If I do not pay and as you suggest may happen, Lloyds get paid by insurers. Would the insurers attempt to as far as Bankruptcy or would they settle for less ? I know you can`t say for sure just looking for sure.

[des8]

Sorry, haven't a clue which way the insurers may go.
Perhaps Lloyds will try and get a charge on your new house, if you bought one.

As I suggested earlier professional advice might be worthwhile.
seek out a solicitor who specialises in professional negligence cases as you may need to take action against your conveyancer
It could be lloyds proceed against you, and you will need to take action against your solicitor

[Billydog1]

ManyThanks