How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Alex J. Your Own Question

Alex J.
Alex J., Solicitor
Category: Property Law
Satisfied Customers: 3613
Experience:  Two years conveyancing experience.
13113900
Type Your Property Law Question Here...
Alex J. is online now

I am looking to get a mortgage on a house but have been told

Resolved Question:

I am looking to get a mortgage on a house but have been told by a mortgage advisor that it may not be possible because The property has a restriction registered against the title in relation to proceeds of crime act, the background of the restriction is unknown and we have researched this issue and can confirm that where this is a sale by a mortgagee in possession, they will provide a signed Transfer Deed called TR2 and this will overreach this restriction and it will be removed. Can you tell if this would affect the lenders security and what it all means?
Just want to make sure there would be no problems
Submitted: 2 years ago.
Category: Property Law
Expert:  Nicola-mod replied 2 years ago.

Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Nicola
Customer: replied 2 years ago.
Yes please keep looking
Expert:  Nicola-mod replied 2 years ago.
Hello,

We will continue to look for a Professional to assist you.

Thank you for your patience,
Nicola
Expert:  Nicola-mod replied 2 years ago.
Hello,

I apologise as we have not yet been able to find a Professional to assist you. Do you wish for me to continue to search for someone to assist you or would you like for us to close your question at this time?

Thank you for your patience,
Nicola
Customer: replied 2 years ago.
Please keep looking
Expert:  Nicola-mod replied 2 years ago.
Hello,

We will continue to look for a Professional to assist you.

Thank you for your patience,
Nicola
Expert:  Alex J. replied 2 years ago.
Hi,

Thank you for your question and welcome.

My name is ***** ***** I will assist you.

This will not effect your lender's security, it will be your solicitors job, acting for you and your bank, to ensure that when the monies for the purchase are transferred to the seller you get free and clear title and the mortgage company's charge is registered as the first charge.

If the seller cannot guarantee free and clear title then simply the sale wont happen.

Your solicitor will just get a guarantee or undertaking from the sellers solicitor that the proceeds he sends to the sellers solicitor will be applied to discharge the mortgagee in possessions charge and the restriction.

This should not really have any relevance as to whether you get a mortgage offer or not.

Kind regards

AJ
Alex J., Solicitor
Category: Property Law
Satisfied Customers: 3613
Experience: Two years conveyancing experience.
Alex J. and other Property Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Remus2004

    Remus2004

    Barrister

    Satisfied Customers:

    2446
    Over 5 years in practice.
< Previous | Next >
  • http://ww2.justanswer.co.uk/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Remus2004's Avatar

    Remus2004

    Barrister

    Satisfied Customers:

    2446
    Over 5 years in practice.
  • http://ww2.justanswer.co.uk/uploads/TG/TGraham12/2012-7-17_81212_bigstockBusinessHandshake508163.64x64.jpg Thomas's Avatar

    Thomas

    Solicitor

    Satisfied Customers:

    453
    UK solicitor holding an England and Wales practising Certificate.
  • http://ww2.justanswer.co.uk/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    42
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law.
  • http://ww2.justanswer.co.uk/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    4708
    LL.B (Hons), Higher Prof. Dip. Law & Practice
  • http://ww2.justanswer.co.uk/uploads/AS/Aston Lawyer/2013-10-8_19517_JAPROFILEPICTURE.64x64.jpg Aston Lawyer's Avatar

    Aston Lawyer

    Solicitor

    Satisfied Customers:

    1907
    LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
  • http://ww2.justanswer.co.uk/uploads/CH/chathamchamber/2011-4-24_191833_1.64x64.jpg chatham-chamber's Avatar

    chatham-chamber

    Solicitor

    Satisfied Customers:

    846
    LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
  • http://ww2.justanswer.co.uk/uploads/CL/clairep80/2013-8-25_191218_dreamstimexs267279822nd.64x64.jpg Clare's Avatar

    Clare

    Solicitor

    Satisfied Customers:

    308
    I have been a solicitor in High Street Practise since 1985 with a wide general experience.
 
 
 

Related Property Law Questions