How to find out if a house has been repossessed
Discussion
Hi all
We viewed at house at the weekend that currently stands unoccupied. The estate agent took us around the house, and when I asked her what the story was with the house a couple of things she said didn't sound right. For example, she said the previous owners had to move due to work commitments, but then later on said they were 'just around the corner'. Why would you have to move just around the corner 'for work'?
My feeling is, if the house has been repossessed and the lender are selling it then they might be more open to negotiation.
Is there a way that I can find out? Land Registry?
Many thanks
We viewed at house at the weekend that currently stands unoccupied. The estate agent took us around the house, and when I asked her what the story was with the house a couple of things she said didn't sound right. For example, she said the previous owners had to move due to work commitments, but then later on said they were 'just around the corner'. Why would you have to move just around the corner 'for work'?
My feeling is, if the house has been repossessed and the lender are selling it then they might be more open to negotiation.
Is there a way that I can find out? Land Registry?
Many thanks
Normally a reposessed house will have warning stickers on the taps, toilets, gas appliances etc saying something like "do not use".
The mortgage company are obliged to get the best price, so you are not likely to get a big discount, unless the house needs to be renovated.
Why not make a low offer anyway, they can always say no.
The mortgage company are obliged to get the best price, so you are not likely to get a big discount, unless the house needs to be renovated.
Why not make a low offer anyway, they can always say no.
Edited by 98elise on Monday 24th January 12:57
98elise said:
Normally a reposessed house will have warning stickers on the taps, toilets, gas appliances etc saying something like "do not use".
The mortgage company are obliged to get the best price, so you are not likely to get a big discount, unless the house needs to be renovated.
Why not make a low offer anyway, they can always say no.
Ah ok, those stickers were definitely not present. The house was frigging freezing though.The mortgage company are obliged to get the best price, so you are not likely to get a big discount, unless the house needs to be renovated.
Why not make a low offer anyway, they can always say no.
It needs a bit of work, but mostly cosmetic and not what I would consider renovation.
There is no overall list of repossessed properties each court lender and institution involved keeps their own list.
Equally the property may have been abandoned or the keys handed back WITHOUT a possession order. This will definitely not show. There is a lot of this about.
You could check the land registry free on line to see the extent of the current mortgage. This will tell you the amount the house was previously sold for. If that looks high in relation to the current price then there probably is reason to think its a repo/handback.
Estate Agents are notorious for being economical with the truth. Like politicians. But a direct question might get an honest response. Hope this helps
Equally the property may have been abandoned or the keys handed back WITHOUT a possession order. This will definitely not show. There is a lot of this about.
You could check the land registry free on line to see the extent of the current mortgage. This will tell you the amount the house was previously sold for. If that looks high in relation to the current price then there probably is reason to think its a repo/handback.
Estate Agents are notorious for being economical with the truth. Like politicians. But a direct question might get an honest response. Hope this helps
Steffan said:
There is no overall list of repossessed properties each court lender and institution involved keeps their own list.
Equally the property may have been abandoned or the keys handed back WITHOUT a possession order. This will definitely not show. There is a lot of this about.
You could check the land registry free on line to see the extent of the current mortgage. This will tell you the amount the house was previously sold for. If that looks high in relation to the current price then there probably is reason to think its a repo/handback.
Estate Agents are notorious for being economical with the truth. Like politicians. But a direct question might get an honest response. Hope this helps
Cheers SteffanEqually the property may have been abandoned or the keys handed back WITHOUT a possession order. This will definitely not show. There is a lot of this about.
You could check the land registry free on line to see the extent of the current mortgage. This will tell you the amount the house was previously sold for. If that looks high in relation to the current price then there probably is reason to think its a repo/handback.
Estate Agents are notorious for being economical with the truth. Like politicians. But a direct question might get an honest response. Hope this helps
I've just got the title document from Land Registry, which shows the initial purchase price in 2002 (when it was built). There are no other entries, so I think the current owners have had it from new.
But, there's an entry under Proprietorship Register on 14.6.2010:
RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated 24 May 2010 in favour of HSBC Bank PLC referred to in the Charges Register.
What does that mean?! Is that maybe just a remortgage?
Also, under Charges Register there is:
14.6.2010 - Registered Charge dated 24 May 2010
14.6.2010 - Proprietor: HSBC Bank PLC
Steffan said:
There is no overall list of repossessed properties each court lender and institution involved keeps their own list.
Equally the property may have been abandoned or the keys handed back WITHOUT a possession order. This will definitely not show. There is a lot of this about.
You could check the land registry free on line to see the extent of the current mortgage. This will tell you the amount the house was previously sold for. If that looks high in relation to the current price then there probably is reason to think its a repo/handback.
Estate Agents are notorious for being economical with the truth. Like politicians. But a direct question might get an honest response. Hope this helps
Cheers SteffanEqually the property may have been abandoned or the keys handed back WITHOUT a possession order. This will definitely not show. There is a lot of this about.
You could check the land registry free on line to see the extent of the current mortgage. This will tell you the amount the house was previously sold for. If that looks high in relation to the current price then there probably is reason to think its a repo/handback.
Estate Agents are notorious for being economical with the truth. Like politicians. But a direct question might get an honest response. Hope this helps
I've just got the title document from Land Registry, which shows the initial purchase price in 2002 (when it was built). There are no other entries, so I think the current owners have had it from new.
But, there's an entry under Proprietorship Register on 14.6.2010:
RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated 24 May 2010 in favour of HSBC Bank PLC referred to in the Charges Register.
What does that mean?! Is that maybe just a remortgage?
Also, under Charges Register there is:
14.6.2010 - Registered Charge dated 24 May 2010
14.6.2010 - Proprietor: HSBC Bank PLC
It is a registered charge on the property separate to the purchase so the borrower has added to his debt. Might be a business guarantee. Particularly from a high street bank.
If property was bought in 2002 must have doubled in value so unlikely to be in negative equity. QED its a charge supporting a loan probably for business.
No way to be certain but push the agent.
I spent 30 years in the housing market it sounds like a forced sake to me.
If property was bought in 2002 must have doubled in value so unlikely to be in negative equity. QED its a charge supporting a loan probably for business.
No way to be certain but push the agent.
I spent 30 years in the housing market it sounds like a forced sake to me.
Steffan said:
It is a registered charge on the property separate to the purchase so the borrower has added to his debt. Might be a business guarantee. Particularly from a high street bank.
If property was bought in 2002 must have doubled in value so unlikely to be in negative equity. QED its a charge supporting a loan probably for business.
No way to be certain but push the agent.
I spent 30 years in the housing market it sounds like a forced sake to me.
Ok, thanks Steffan. It's not doubled in value, but gone up by a third, not a great deal.If property was bought in 2002 must have doubled in value so unlikely to be in negative equity. QED its a charge supporting a loan probably for business.
No way to be certain but push the agent.
I spent 30 years in the housing market it sounds like a forced sake to me.
If I find anything out I'll let you know!
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