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T O P I C R E V I E W
jw21
Posted - 17 April 2008 : 00:50:25 Hi, wondering if you can help. I have 2 charging orders on my house and have decided I would like to sell my property, but will only have enough equity to pay off one of the debts and maybe 25% of the second debt. Am I able to sell and just continue making the monthly payments I am currently paying off the second debt? I have heard that the charge won't come off the property unless both debts are paid off, is this correct?
2 L A T E S T R E P L I E S (Newest First)
AlanO
Posted - 17 April 2008 : 22:32:24 Hi JW
It is all down to negotiation - talk with the parties that have the charging orders and you may be pleasantly surprised
The companies that have charging orders over the property will be asked to give their permission for the sale to go through.
If the property is being sold at market value then the likelihood is they will not hold up a sale.
Is the property in your sole name? If not are the charges in your sole name? What has the property been values at? What is the mortgage on the property and value of the two charges?
