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MatthewM1117
MatthewM1117,
Category: Property Law
Satisfied Customers: 321
Experience:  Expert
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How do you enforce a second charge on a property? Do you

Customer Question

How do you enforce a second charge on a property? Do you need to go to court or can you just agree it with the owner of the property?
JA: What steps has the owner taken so far? Have they prepared or filed any paperwork?
Customer: they have put it on the market and have recived an offer
JA: Where is the property located?
Customer: newcasle upon tyne
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: no thats it
Submitted: 7 days ago.
Category: Property Law
Customer: replied 7 days ago.
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Customer: replied 7 days ago.
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Expert:  Virtual-mod replied 6 days 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!
Expert:  MatthewM1117 replied 6 days ago.

Good morning thank you for contacting Just Answer my name Is***** am a solicitor and I will be assisting you today. A second charge has less precedence than a first charge, however the rights of a second charge holder includes being able to seize a property and force a sale in order to recoup the amount borrowed should the second charge mortgage fall into arrears.

Expert:  MatthewM1117 replied 6 days ago.

Hopefully I have answered your question but if anything remains unclear I will be happy to assist further.