Am I Right To Be Feeling This Way?
Family Life1 min ago
registered restriction against land
1 Answers
i had a personal credit card bill with my bank of 10k, and credit crunch took, my business is struggling, i wrote to bank to ask them to freeze interest, and i would continue paying, they said no, and i didnt pay. it went to court, and i agreed a payment plan, but got no work for 2 months, so no cash, tried to speak to banks solicitors, but noone called me back. i now received this registrationof restriction against my house, what does it mean, and what effect does it have on me and what about my payments.
please help
please help
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The restriction will be a result of either an interim or final charging order obtained by your creditor through court.
If/when you come to sell your home all debts registered against your property will have to be paid off in date order:
1st mortgage, 2nd mortgage and then restrictions.
This means that should you want to sell your house you may get little or no money back until the restriction is paid.
Hope this makes sense!
If/when you come to sell your home all debts registered against your property will have to be paid off in date order:
1st mortgage, 2nd mortgage and then restrictions.
This means that should you want to sell your house you may get little or no money back until the restriction is paid.
Hope this makes sense!
Only 1 answer
