proprerty

[hibberd41]

how do i put a charge on a person property

[Eve]

What is the charge relating to?

[hibberd41]

I have loaned someone some money and I want to make sure it is secure somehow

[Eve]

Speak to a solicitor about drawing up a charge for you, can use Land Registry Form CH1 but I'd get legal advice as to what goes in the charge and for putting a restriction on the title register.

I'd charge about �100.00 plus VAT for it but you would have other disbursements such as copies of the title register (�6), search (�3) and Land Registry fee (�40).

Bear in mind your charge would rang in priority to others eg main mortgage lender and other charges on the title. Your solicitor could advise you who else holds a charge which ranks about yours.

It will also give an idea as to the amount of equity which could be available if the property is sold, eg if the main mortgage is still high and there are other creditors which charges.

Also ask your solicitor to explain what would happen should the property be repossed as lenders who repossess have a statutory power of sale which can overide other creditors. The equity situation is important here too.