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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70416
Experience:  Over 5 years in practice
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hi,I am the registeredcharge on a mortgage for a property i

Customer Question

hi,I am the registeredcharge on a mortgage for a property i sold to my step daughter 5 years ago. the charge is for 32k, and was for a shortfall in what i sold it for (15k less than value) as she could only get a small mortgage, and the rest was to pay me back for all work done in modernising the property including re wire and heating system, knocking walls out and totally refurbing. how can i go about forcing the charge please??
Submitted: 3 years ago.
Category: Law
Expert:  Jo C. replied 3 years ago.
Hi.

Thank you for your question. My name is Jo and I will try to help with this.

Is there any agreement for her to repay the money?

What I need to know is why you now want to recover the money in respect of the charge.

What is the total value of the house and how much is the first mortgage?

Customer: replied 3 years ago.
The first mortgage is for around 40k. The value is around 75 k. I am in the process of sorting a financial settlement with my ex and nee to raise funds. The only way is to force the charge if I can?
Expert:  Jo C. replied 3 years ago.
Thanks for the information and the time.

I am sorry but I cannot give you good news then. I’m afraid you are in difficulty here.

Unless there was an agreement in the original legal charge for the loan to be repaid at some stage before the property is sold the court will not necessarily enforce a sale.

It is different if this is a debt which is due to you and for which you are the hostile charge against the property because the person was not paying you.

However, if this was simply a loan which you secured by way of charge, you will struggle to force a sale of the property unless your step daughter has done something which she should not have done with regard to the charge, or has not done something which she should have done.

In addition, the first mortgage may oppose your application in any event, if they are happy with the way that mortgage account has been run and they do not want to lose it.

For that reason, if ever anyone is granting a charge over the property there should always be the condition that it is repayable on demand, or over a period of time.

If that condition is in there you are able to make an application to court for an order for sale.

I am sorry if this is bad news for you.

Hope this helps. Please let me know if you need more information.

Jo