Hello and thanks for using Just Answer.
My name is ***** ***** am happy to assist you with your enquiry.
Your Solicitor is under a duty to make sure all the Charges are released on completion. The first 2 charges take precedence, and both Lenders will have to remove their Charge upon receipt from your Solicitor of the monies required to redeem the Charge.
As regards ***** ***** Charge, it would be normal for your Solicitor to write to them at the onset, explaining that there is negative equity and therefore insufficient funds available to clear the outstanding balance. The creditor would normally then write back and agree to receive whatever money is left in reducing their debt and in return would remove their charge from the Land Registry. On top of this, the creditor will normally ask you to sign an agreement, confirming that you will pay off the remaining balance by way of monthly payments, at a sum that you can afford.
Your Solicitor will therefor eneed to get all of this agreed, but he can then exchange Contracts with your Buyer. So, in truth, the third creditor can delay matters, but if they have any sense, they will agree to accept a reduced payment on completion of the Sale.
I hope this assists and sets out the legal position.