Jobs

Personal Finance

What happens next - Nationwide pushing for Charge on property

Help please - I am one of the worlds worrywarts!!! Nationwide have just taken me to court and the judge ruled that I should pay the debt forthwith - knowing that we do not have the money - he said that this now allows Nationwide to push for a Charge on our house - which we dont mind but i just need to know exactly what happens next - as in my mind i feel that I am the only one in the country they are doing this too - even thou i know that is not the case.

worrywart9 Thurs 28/08/08 11:10

<< Previous

Next >>

Subscribe to question

Post an Answer

whambam
Tue 02/09/08
18:07

Go to Citizens Advice who will either give you advise on what the procedures are, or will get you legal advise for it.
Alternatively you could go into your local branch to talk to a manager (hopefully a helpful one rather than an arrogant one) and ask to explain the procedures and timeframes as well as any options you may have not already discussed

ruth15
Thurs 04/09/08
16:35

I've just recently had a charge put on my property. Basically in your case, Nationwide want their money and so the outstanding amount sits on your mortgage. Unless you have set up a monthly payment plan with Nationwide, the only way they'll get their money is when you sell your property. The only problem you may encounter is when you want to borrow more money. The company in question that you want to borrow from, or if you need to remortgage, will need to ask the company that put the charge on your property (in your case, Nationwide) if you can borrow money.
I panicked when I first received mine (by way of partner!), but I'm okay about it now, although I haven't tried borrowing any money yet!

Post an Answer

Submit the above question and answers

add to del.icio.us	add to digg	add to furl
add to reddit	add to Technorati	add to Blinklist
add to StumbleUpon	add to squidoo	add to ma.gnolia
add to Cocomment	add to Netscape	add to Fark