Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

Alan B'Stard MP

Charge On Houses

Recommended Posts

Any help would be gratefully appreciated.

If I put a charge on a house - can I have the that charge put in % terms - or can it only be a nominal charge?

Thanks in advance,

Share this post


Link to post
Share on other sites

Any help would be gratefully appreciated.

If I put a charge on a house - can I have the that charge put in % terms - or can it only be a nominal charge?

Thanks in advance,

well, banks put a % on in the great "get a free loan in exchange for equity" scam.

So, I suppose yes you could.

Share this post


Link to post
Share on other sites

well, banks put a % on in the great "get a free loan in exchange for equity" scam.

So, I suppose yes you could.

Are you suggesting I'm a scam artist or a bank - or heaven forbid (if such a monstrosity exists) , BOTH !

Share this post


Link to post
Share on other sites

Any help would be gratefully appreciated.

If I put a charge on a house - can I have the that charge put in % terms - or can it only be a nominal charge?

Thanks in advance,

You charge a property to secure a debt and as such it means that if you default on the debt then the charge-holder gets paid first upon the sale of the house. This may or may not cover his debt and may or may not leave you with a residual amount.

I don't think that a charge can be a specific percentage of the property. If you wanted to do that you would have to register the other party as a joint owner as a Tenant in Common (as opposd to Joint Tenants) and specify in what percentages you each hold it.

Share this post


Link to post
Share on other sites

You charge a property to secure a debt and as such it means that if you default on the debt then the charge-holder gets paid first upon the sale of the house. This may or may not cover his debt and may or may not leave you with a residual amount.

I don't think that a charge can be a specific percentage of the property. If you wanted to do that you would have to register the other party as a joint owner as a Tenant in Common (as opposd to Joint Tenants) and specify in what percentages you each hold it.

Thanks, seven of nine.

Share this post


Link to post
Share on other sites

Thanks, seven of nine.

Just out of interest, what is it your are doing? Are you securing a loan against your own property or trying to charge the property of someone who owes you?

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 246 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.