Legal Question in Real Estate Law in United Kingdom
Putting a legal Charge on property deeds in respect of a loan
If I loan a homeowner a substantial sum of money can we get a charge put on the deeds in respect of that loan? The house is not under mortgage and no other charges are on those deeds.
1 Answer from Attorneys
Re: Putting a legal Charge on property deeds in respect of a loan
Yes.
You need to investigate the persons title, carry out searches and get a mortgage signed.
You also need to check to be sure that the person you are lending to is not bankrupt or likely to go bankrupt as this can result in the charge being ineffective
after signature the charge needs to be registered at the Land registry and you should keep any important documents about the property with the paper deeds your self until the loan is repaid.
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