PatrickSponge
Registered User
- Messages
- 13
Thanks JohnGet independent legal advice.
My understanding is that once all the searches came back clear as of the date of the closing of the sale, then the subsequent judgement mortgage is not enforceable.
This is because you fall within the definition of a “bona fide purchaser for value without notice, all the usual searches having been made”. In other words, you were not on notice of the judgment mortgage as of the date of closing, having conducted the usual searches.
I hear you. And I know it’s all well and good my pointing out the legalities of the thing, whilst you have a judgement mortgage attached to your property. Your Solicitor needs, I would imagine, to open up a chain of correspondence with BoI (as regards the charge on the property) with a view to getting their agreement to remove it, whilst at the same time opening up a chain of correspondence with Avant pointing out that the charge isn’t enforceable against you.Thanks John
I do know this will be resolved as it has nothing to do with me per se, my real concern is how long it will take. I am currently paying BOI interest while they await their loan settlement while also paying Avant as my solicitor has their money.
The solicitor dealing with the switch hasn’t been overly helpful as he says it is highly unusual and didn’t seem to know who to contact to go about resolving it.
As Johnno75 stated, you need independent legal advice.Get independent legal advice.
Thanks Paul@PatrickSponge The following doesn't tell you anything about how to get the issue resolved but it at least lets you quantify how much extra interest you are paying while your solicitor still has the money from Avant and before the BOI mortgage is paid off.
Mortgage Calculator UK
Free online mortgage calculator specifically customized for use in the UK including amortization tables and the respective graphs.www.calculator.net
I have entered some made-up figures. Edit them to match the details of your Bank of Ireland mortgage. (For "Home Price", enter the mortgage balance, not the value of your home.) Click "Calculate".
The "Interest Only" figure is the amount of interest you would pay to Bank of Ireland over the next month. If the issue gets resolved within a week, you can divide this figure by 4 (approximately).
Hi Jim,Your solicitor should have obtained judgment searches on the day you were due to complete. If your solicitor obtained them earlier, then it could be argued that they were negligent. The challenge you would have in such a scenario is the Statute of Limitations.
As it possible that the previous owner has since paid off/ settled with BOI, you should contact the previous owner and establish the facts.
As Johnno75 stated, you need independent legal advice.
Jim Stafford
51KHow much is the judgement order for?
Brendan
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