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1. Dear Nathan, there is no time limit upon a mortgage company registering a charge over your house or land, if a mortgage deed gives them this power. Essentially, the debt owing under the mortgage deed would have to become statute barred after six years of not acknowledging the debt or making any payment, for the mortgage company to lose its power to register their charge under a Mortgage Deed.
2. So, if after six years of making no payment on the mortgage or not acknowledging the debt, then the power to register the charge would be lost by the mortgage company.
3. However, if you have made a payment on the mortgage within the last six years, this would revive any powers under the Mortgage Deed, including the power to register a charge which had not yet been registered.
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5. No, this would not be a problem. Essentially, the previous mortgage company's charge has been got rid of. This does not affect the situation with the current mortgage company.
6. There is no problem with two mortgage companies holding charges over the same property. This happens all the time. Additionally, there is no registration of priority. Priority is determined by rules of law, namely, first in time and then legal charges have preference over equitable charges.
7. Are you for the birds??? This is absolute sh*t!