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I searched for an answer elsewhere on this Forum but couldn't find what I was looking for.

I know of a nice rural property, with land, that I would like to buy. I am a cash buyer. The property became empty Autumn 2009. It had been purchased by some kind of builder who had other properties but when the downturn happened he came unstuck and did a runner. I have bought the info. from the LR that tells me that there are three charges on the property. The place is still empty after 9-10 months and has suffered frozen pipe damage internally. Because the place is unoccupied there must be an element of risk with the place (squatters, more deterioration, etc) and yet the place remains dormant.

I have contacted two of the mortgagees to see what is going to happen with the place and they wouldn't or couldn't help.

My questions are :

How do I find out if a property has actually been re-possessed ?

Why haven't the mortgagees realised their assets by now ?

Does having three different lenders (two are banks) complicate the issue ?

What else can I do to stop myself from getting continually frustrated at not finding it for sale ?

This is a serious enquiry and I will be very appreciative for any help and/or guidance. Thank you.

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Get a copy of the title deeds from the land registry that should tell you who the first charge is on the mortgaged property, the person who repoed it basically.

If you can get the name of the last owner from the title deeds, run the name through the insolvency register online and look to see if and when they were made bancrupt. It should give you details if not call up the court with the reference number and they can tell you who the official reciver is. Now contact them and ask who is it you need to deal with regarding the property. Then put what you want in writing to them. Don't bother calling as they don't want to talk to you.

We purchased a repo apartment ;last year from Northern Rock, it was a two year rollercoaster to get it sorted out. My advice would be to be patient, agree with a solicitor a set fee for the job ( if we hadn't done this it would have cost us upwards of 2k) and don't expect the seller/asset managements people to even want to talk to you. Its not an easy ride but you will be quids in hopefully once you buy the property. You won't be paying anything like the last for sale price,( we paid less than our flat was sold for at the first sale)

the mortgage companies I feel are now being more realistic with so many repos on their books.. They are hard work and in my experience would say they don't give a damn.

Would I do it again? If the property was a real bargin then, yes, to save a few quid, no.

Good luck. B)

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Get a copy of the title deeds from the land registry that should tell you who the first charge is on the mortgaged property, the person who repoed it basically.

If you can get the name of the last owner from the title deeds, run the name through the insolvency register online and look to see if and when they were made bancrupt. It should give you details if not call up the court with the reference number and they can tell you who the official reciver is. Now contact them and ask who is it you need to deal with regarding the property. Then put what you want in writing to them. Don't bother calling as they don't want to talk to you.

We purchased a repo apartment ;last year from Northern Rock, it was a two year rollercoaster to get it sorted out. My advice would be to be patient, agree with a solicitor a set fee for the job ( if we hadn't done this it would have cost us upwards of 2k) and don't expect the seller/asset managements people to even want to talk to you. Its not an easy ride but you will be quids in hopefully once you buy the property. You won't be paying anything like the last for sale price,( we paid less than our flat was sold for at the first sale)

the mortgage companies I feel are now being more realistic with so many repos on their books.. They are hard work and in my experience would say they don't give a damn.

Would I do it again? If the property was a real bargin then, yes, to save a few quid, no.

Good luck. B)

Thank you very much Audi TT for your response. That was really helpful. I have already got the details from the Land Registry, I know the last owners name, also his company name, and who the 1st charge is with (NR incidentally !!) but didn't know anything about the Insolvency Register. . I will get cracking on that tomorrow. So it is the Official Receiver that that I should be dealing with initially then, rather than Northern Rock ?

Thanks again. I'll keep you posted.

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  • 260 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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