Sep
06
House Repossesion * Shortfalls * If a house was repossed over 6 years ago?
By
If a property was reposssed and a force sale has taken place and a shortfall of £26000 has occured.The company has been in contact so the 6/12 year rule does not apply The Halifax have registered a CCj for the above amount. If a new purchase was to take place would halifax be able to place a second or worse still a first charge over the new property purchase? Halifax would be informed by the solicitor once he checks the repossesion search and will have a duty to inform the Halifax.
Thanks for reading
Yes I understand it stays with the person not property but if the person who owes the money tries to purchase another property can Halifax place a charge on the property
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2 Comments
September 9th, 2009 at 3:07 pm
debts stay with a person not a property
September 12th, 2009 at 10:41 am
As far as I’m aware the Halifax can’t register a first or second charge without the owners consent however they can register a caution.It strikes me that if they’ve registered a CCJ for £26,000 you would have to buy the other property for cash as I suspect you would have difficulty rasing mortgage finance.