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.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask LegalNinja Your Own Question
LegalNinja
LegalNinja, Property Solicitor
Category: Property Law
Satisfied Customers: 881
Experience:  Solicitor
103518254
Type Your Property Law Question Here...
LegalNinja is online now

What is a grant of charge on a property, don't know, uk, no

This answer was rated:

what is a grant of charge on a property
JA: What steps have been taken so far? Has any paperwork been prepared or filed?
Customer: don't know
JA: Where is the property located?
Customer: uk
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no
Customer: replied 15 days ago.

K**y Pi***tt’s lender’s solicitor has asked for a grant of charge on the property K**y is buying. It is a flat in a block of 4 and I am told that K**y owns the other 3. This is holding up our chain, everyone else is ready to exchange, thanks

Customer: replied 15 days ago.
Any news
Customer: replied 15 days ago.
Still waiting
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!
Hello,I will be assisting you. Kindly note, this is not a chat service and my responses may be delayed due to assisting other users.
You may request a phone call through the site for an additional small fee. This is an automatic offer made by the system giving you the opportunity to pay extra to discuss things over the phone. However, it is entirely optional and if you just ignore it and close it down you will not be charged extra and we will just continue in writing at no extra cost.
A legal charge is a method whereby a lender may register an interest against a secured asset, such as a property, as security for a debt . The legal charge will remain registered until the debt is paid. This is common practice of mortgage lenders.
Is there anything else I can clarify for you?
Customer: replied 14 days ago.

How long can this take to resolve as all of chain is ready to exchange

Well this is something Kelly’s solicitor should be able to advise including the lender’s requirements. May I ask what is your interest in the matter?
Customer: replied 14 days ago.
Hi, she is at the bottom of our chain, everyone is ready to exchange, but this is holding everything up, looking to exchange next Friday, move the following week
I understand. It depends on the lender’s requirements and whether the solicitor has raised all the necessary enquiries and reported to both their Client and the lender’s solicitors. Have the agents been able to obtain any information regarding the progress?
Customer: replied 14 days ago.

She is a private buyer, as she owns the other 3 flats, and has no agent, I believe she has the maintenance pack and bridging loan in place, is this a quick fix or will it drag on, as I said, everyone else in the chain is ready to exchange and wanted to last Friday, everyone has booked vans etc ready to go

I wouldn’t be able to comment on timescales as I do not have the full facts but what I will say is that if her solicitor is aware of the Friday exchange deadline then they will know the consequences of not exchanging by then. It is simply a matter of waiting to see what transpires and asking your solicitor to follow up as to their progress.
Is there anything else I can clarify?
Customer: replied 14 days ago.
thank you
Customer: replied 14 days ago.

No, thanks, just hoping it gets sorted quickly

I do hope so. Thank you for your time.All the best
LegalNinja, Property Solicitor
Category: Property Law
Satisfied Customers: 881
Experience: Solicitor
LegalNinja and other Property Law Specialists are ready to help you