How can I find debt attached to my property.?

[kingrollo]

How can I find if any debt has been taken out against my property.

My son who lives at home runs a property business - which I have discovered is more extensive than he told me. He has assured me that no debt is set against the property - but I wondered if I could check this ?

 

[Emanresu]

Mortgages will show on the title. Are you looking for Charging Orders?

 

[kingrollo]

Mortgages will show on the title. Are you looking for Charging Orders?

Not sure. I suppose any business loans secured against the property?

 

[fossyant]

If he can't prove he owns your property then there surely should be no debt/charge attached as he technically can't do that. Worries me too as son has a business that's registered at our house which he's been told we aren't happy about given how slack he is at 'admin'.

 

[Seevio]

Is it even possible to legally secure a loan against a property that you don't own?

 

[roubaixtuesday]

Is it even possible to legally secure a loan against a property that you don't own?

No, that would be fraud.

 

[kingrollo]

If he can't prove he owns your property then there surely should be no debt/charge attached as he technically can't do that. Worries me too as son has a business that's registered at our house which he's been told we aren't happy about given how slack he is at 'admin'.

Yeah my son is a lot more cavalier with money than I am - not adverse to risk taking. Its just a hassle I could do without at my age.

 

[Emanresu]

No, that would be fraud.

Not quite. If you have failed to pay a loan and it becomes delinquent, you can apply to a court to have a charge put against an asset - the Charging Order mentioned above. Depending on who actually lives in the property, the court can force a sale if it is equitable to do so.

People not paying Council Tax for example, can have Charging Orders placed against the property. The idea is that when it comes to selling, the conveyancer has to alert those with a Charging Order about the sale so they can take steps to recover what they are due.

https://nationaldebtline.org/get-information/guides/charging-orders-ew/

 

[Drago]

If he's misrepresenting the situation at any level (eg, stating Dad had agreed to it when he hadn't, fibbing about who really owns the property, etc) when applying it would most assuredly be an act of criminal fraud.

I'm sure this isn't the case here though.

 

[Seevio]

Not quite. If you have failed to pay a loan and it becomes delinquent, you can apply to a court to have a charge put against an asset - the Charging Order mentioned above. Depending on who actually lives in the property, the court can force a sale if it is equitable to do so.

People not paying Council Tax for example, can have Charging Orders placed against the property. The idea is that when it comes to selling, the conveyancer has to alert those with a Charging Order about the sale so they can take steps to recover what they are due.

https://nationaldebtline.org/get-information/guides/charging-orders-ew/

If I read the linked article correctly, the debtor must have at least a partial share in the ownership of a property for a charging order to be granted. It doesn't seem right that the courts can force the sale of somebody else's property to settle your debt.

 

[wiggydiggy]

An extra thing you can do is register with the land registry (it's free) to give you alerts on any attempted changes to the deeds.

Edit: Register!

 

[Emanresu]

@kingrollo Have you applied for a recent copy of the title to your property from Land Registry. Only a few quid online and should put your mind at rest. Or you can pay someone like Experian to monitor your account (£15/month?) so any debt in your name gets picked up.

My daughter had a debt taken out in her name (we've an usual surname) at an address she had not contact with. Took a few months to get is sorted as those that had lent the money can be quite determined to believe you are conning them despite evidence to the contrary.

 

[kingrollo]

@kingrollo Have you applied for a recent copy of the title to your property from Land Registry. Only a few quid online and should put your mind at rest. Or you can pay someone like Experian to monitor your account (£15/month?) so any debt in your name gets picked up.

My daughter had a debt taken out in her name (we've an usual surname) at an address she had not contact with. Took a few months to get is sorted as those that had lent the money can be quite determined to believe you are conning them despite evidence to the contrary.

Yeah Im thinking of doing the land registry thing

 

[presta]

Is it even possible to legally secure a loan against a property that you don't own?

Some people even discover their houses have been sold without their knowledge.

 

[Tenkaykev]

An extra thing you can do is registry with the land registry (it's free) to give you alerts on any attempted changes to the deeds.

I have done that as it is free of charge. I also receive a six month notification that nothing has changed.