Old hsbc charge on my property is untraceable so can't be paid

[fedupper]

Several years ago before 2009 I had a business loan of £25,000 with the hsbc. It was the very beginning of the financial crisis and my repayment was one day late because i had to transfer funds from a different account.
Hsbc called me within 2 days of the late payment, and used this error, to demand the full loan back which I could not do. I lost all banking, credit card facilities and so lost my business. 

 

They secured the loan interest free, against my property and I haven't heard back in over 10 years.
I believe the debt was sold on to others but I can't remember who.

At one point about 11 years ago, I decided to start paying it off and tried to contact the last contact I had for them but they said my date of birth did not match the one on their system and I could not get past security in spite of trying several times in the hope that the person I was speaking to was looking at something unrelated.

I have not changed my date of birth and the address is the same, so it must be their error. 

Now i want to sell my property and my solicitor doesn't know how to get a redemption amount or pay it off, as I don't have an account number and I don't know who owns the debt.
I had hoped she could find it by using the address. 

 

So we're now stuck and don't know where to turn and we urgently need to sort this out and exchange contracts on our sale but the solicitor doesn't know what to do or how long it could take.

 

Perhaps someone can guide me in the right direction?

 

Thank you.

[AndyOrch]

 

Hellooo and Welcome to the Forum.

 

If the debt was in your name only on a joint mortgaged property then its a Restriction K...and does not necessarily need to be paid off if your Conveyancer solicitor is worth their salt.

 

Have you checked the charge to see what type it is ? 

You can do this by logging into Land Registry website.

 

Regards

 

Andy.

 

 

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[fedupper]

Hello! thank you for getting back to me so quickly. 
I will definitely check this out. 
Wendy 

[AndyOrch]

https://forums.moneysavingexpert.com/discussion/5229128/conveyancer-who-understands-interim-charging-order

 

https://freeconveyancingadvice.co.uk/Q&A/sale-purchase/i-want-to-sell-my-jointly-owne

 

 

 

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[fedupper]

Hello Andy, 
I've asked the solicitor and she said this, so probably the restriction K doesn't apply:

In the meantime I'm hoping we will be able to trace whoever the debt was sold to if this is the case.

in respect of this HSBC charge this is not a restriction this is a registered charge against the property, this needs to be discharged by HSBC with a e-DS1 form or DS1 for Land Registry purposes and the way for them to provide this to us would be by redeeming outstanding amounts on the loan.

This is not a restriction so unfortunately this is not applicable in this circumstance.