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Welcome Finance /Coast Financial

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  • Welcome Finance /Coast Financial

    Hi there
    would greatly appreciate some advice. My husband and his ex wife took out a Welcome Finance secured loan around 2005. They are now divorced. Welcome finance collapsed in 2011 and they have made no repayments nor been chased since then. The marital house which the loan was secured on was sold in 2016 there was no charge at the land registry for welcome finance so loan was not paid off.
    just recently the buyers solicitor sent a letter stating the charge was on the property and the new owners want it paying off asap or they will start court proceedings.
    Have checked with Land Registry and the charge is now on the property in the name of Coast Financial how could this have happened after house was sold? How do we stand? Could solicitor be at fault? Ex wife has not been chased for this debt either which is not fair. Have researched on line and discovered Coast are really difficult to deal with the buyers solicitor want us to transfer the charge to our marital home which as you can imagine I donít want this to happen. Has anyone had any experience dealing with Coast do you think they would accept a full and final offer or pursue us for full amount of loan? Many thanks
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