We have been trying to negotiate the purchase of a house for the last year. The vendor has been unwilling to reduce an inflated purchase price. Two days ago he was made bankrupt and the property has already been repossesed. We seem to be unable to find out who his lenders are. How can we do this as our fear is it will end up going to auction/sealed bids or simply be sold to another party. Our finances are in place, we have nothing to sell. Advice please.
AFAIK, the mortgage would have to be registered at the Land Registry/Registry of Deeds. Your solicitor will be able to advise you how to request a search to find the lender.