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chatham-chamber
chatham-chamber, Advocate
Category: Law
Satisfied Customers: 12757
Experience:  LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
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Really just a toe in the water query at this stage, however,

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Really just a toe in the water query at this stage, however, if we are able to prove definitively that a UK lender received 100% receipt of the total balance of a mortgage account as the result of the original lender selling the debt and all financial or equitable interests in the mortgaged property, and, this is the main point, arranged with the new funders or beneficiaries that they wouldn't apply for the Charges Register to be updated, can th
Assistant: Where are you? It matters because laws vary by location.
Customer: UK only mostly England and Wales
Assistant: What steps have you taken so far?
Customer: The last part was can the proprietor remain on the register without any financial or equitable interest?
Assistant: Anything else you want the lawyer to know before I connect you?
Customer: We are the Part 35 experts who have prepared the pre-action case files and are waiting for ATE and litigation funders to give the green light.

Hi,

If a charge has redeemed, lenders should remove the charge by discharging at the land registry.

If they fail to do so, you would have to obtain a Court Order to have the charge removed.

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.

Many thanks

chatham-chamber and 3 other Law Specialists are ready to help you
Customer: replied 5 days ago.
The issue is the widespread misuse of the Land Registration Act 2002 where the proprietor simply issued a TR4 for the charges on a portfolio of mortgage loans being discharged and the new owners as part of the written sale agreement do not register their interest within the prescribed statutory period in contravention of s27(3)(a) of the LRA 2002.
There is no provision for the enforcement of the registration as HMRC do not know who is the true rightful person who is entitled to register their supposedly legal interests. They already have the financial and equitable benefits and rights so as long as the paradox persists the original proprietor remains.