Holder of Mortgage query

[wjc]

Interested in property near me. House never lived in. Auctioneer looking for price 30% higher than my bid. Says he cannot let it go for that even though I am highest bidder. I was wondering if there was a way of finding out which bank has a charge on property? If my bid is close to the outstanding mortgage I may be able to get bank to force the auctioneer to sell. Any ideas? It is a house in countryside on a number of acres. Hard to estimate value as no comparable properties have been sold locally. Any help appreciated.

 

[jhegarty]

Thing don't work that way....

 

[mf1]

"If my bid is close to the outstanding mortgage I may be able to get bank to force the auctioneer to sell. "

What is this? The mafia?

What if the people selling are not too worried?

I have to say that vendors did behave badly when times were good but my experience of purchasers currently is that they are worse than extremely badly behaved vultures. Or, by definition, are vultures always badly behaved anyway?

mf

 

[PM1234]

I don't understand your question.

If the house has never been lived in, how do you know there is a mortgage on it? Even if you did know the o/s mortgage, how would you know it has not been partially paid off in a lump sum, over what term the mortgage was taken out or how much was taken out initially etc etc. The o/s mortgage is completely irrelevant.

If there is a mortgage, the lender cannot give you information (unless you actually own the house). The lender can't force a sale on your behalf. If the house has been repossessed, the auctioneer is selling under the lender's instructions.

Did you mean you would like to find out whose name is on the title deeds i.e. the owner's name? If so try the Land Registry.