09 Mar 2015

A question about : Restriction against the land

Hi
I'm new here, so any advice is gratefully received. I own a property that I lived in briefly then rented out as it was not big enough for me and my family, so we moved into a larger rented house ourselves. I have a debt for 7.5k that I had been making regular payments on for a long period of time, then we got into some difficulties and were unable to make the payments. The long and the short of it is that I've just been round to house today and there was a pile of letters from the creditor, court and land registry, the latter being a Notice of Application to register a restriction against the land.

My question at this point, not being in a financial position to clear the debt, is can they force the sale of the house? Is this possible? If it is possible, is it likely, given that when we bought it 6 years ago we had a 95% mortgage and the 5% we owned has most certainly disappeared now. This being the case, even if they could, there would be no point, right? The mortgage company would have first dibs I assume.

Like I say, any advice is gratefully received.

Thanks

Best answers:

  • Looks like they are trying to put a charge on your property.
  • As the big display at the start of the board says they are now closed for review, so don't expect any response from CAB. I suggest you post on the main housing board instead.
  • As you have mentioned a restriction, I assume that the property is in joint names. If this is the case it is worth a read of this thread:
    http://forums.moneysavingexpert.com/....php?t=1839539