Old charge on property title - How long to remove?

[SlidingSideways]

We were due to exchange contracts on our sale/purchase last week, with a view to completing tomorrow.
This was all promptly scuppered when our vendors solicitor suddenly spotting a charge still registered on the property that they'd not investigated.
Turns out this was for an old loan secured against the house, but which was settled back in 2003.

So as of today, we're all boxed up and raring to move, but nobody seems to be able to tell me how long this is going to take to sort out. I understand that it's now in the hands of the bank who need to provide confirmation to the vendors solicitor that the loan is settled and that the charge will be removed before we can get going again.

Does anyone know of the likely timescale for the bank to respond? It's Natwest if that makes any difference.

[Pheo]

We had this and it took 6 months because the company had been dissolved.

I would be prepared for a reasonable wait, eg if they can't find the paperwork etc. feel for you - was bloody annoying for us, although more complex as it was bona Vocantia wtc

[SlidingSideways]

Pheo said:

We had this and it took 6 months because the company had been dissolved.

I would be prepared for a reasonable wait, eg if they can't find the paperwork etc. feel for you - was bloody annoying for us, although more complex as it was bona Vocantia wtc

Thanks for the insight, I had to look up bona vocantia and it sounds like you had a real nightmare!
At least Natwest are still around, unless I've missed some breaking news today...