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LegalNinja, Property Solicitor
Category: Property Law
Satisfied Customers: 881
Experience:  Solicitor
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What is a grant of charge on a property, don't know, uk, no

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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

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Thank you!
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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
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