What date was the loan entered into?
Thanks for the additional information.
If the loan agreement was dated after the registration of the legal charge then I am afraid that I agree with the solicitors acting for the loan company.
In order for the loan company to have a case, they need to prove that the agreement was signed after the creation of the charge. Generally, applications must be made to HM Land Registry within 2 months.
From the information you have provided, it would seem that the loan ompany may have reasonable grounds for suggesting that the charge is second to their loan.
I hope this answers your question. If so, kindly rate the answer and provide feedback.
If you have any further questions, please do not hesitate to ask.
I note what you say but it was still signed after the date of the charge.