Legal Advise - UK
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Description
Experience Level: Intermediate
We are in the process of getting the re-mortgage funds from a company called Godiva. They have confirmed that they will remortgage funds for 1 of our priorities
They just need the charged removed from GE - Money. Ge Money have confirmed they will have it removed but it may take 28 days. (please see the email below from GE- Money)
I just want to confirm where we stand legally regarding the following:
GE Money have confirm that the mortgage has been paid 6 years ago so they should have removed the charge 6 years ago
GE Money are saying it can take up to 28 Days for them to update with the Land registry
If GE money does not take the charge off in time we will incur a financial penalty for not completing the property purchase
I spoke to the Land Registry and they have confirmed it can be remove within 5 days using the electronic system.
I have spoken to GE Money and have requested that they use this system to get it done today for it be taken of for next week.
We note if we don’t complete this month we will have to pay the vendors mortgage.
As GE have been told about this. there is no reason they couldn’t remove the charge today.
The Question
If they fail to do this in the time frame needed to insure we complete this month can we claim damages from GE.
Negligence for not removing the charge 6 years ago?
Further Negligence for not expediting this request knowing full well that we stand to face financial penalties due to their lack of speed to resolve the issue?
Solution
What I want to do:
Is speak to the director of GE Money and/or the Solicitor’s to confirm the exact process of removing the charge of the property.
I also what to confirm from a legal standpoint that they stand to lose as a result of not acting fast enough to resolve an issue they solely created. So any financial damages we incur they will have the pay for.
Locate a solicitor that can do to it quicker
Please advise if my solutions are correct as the goal is to put legal pressure on GE-Money to update the charge today. If not, raise the case that they will have pay for damages due to their delays they caused..
They just need the charged removed from GE - Money. Ge Money have confirmed they will have it removed but it may take 28 days. (please see the email below from GE- Money)
I just want to confirm where we stand legally regarding the following:
GE Money have confirm that the mortgage has been paid 6 years ago so they should have removed the charge 6 years ago
GE Money are saying it can take up to 28 Days for them to update with the Land registry
If GE money does not take the charge off in time we will incur a financial penalty for not completing the property purchase
I spoke to the Land Registry and they have confirmed it can be remove within 5 days using the electronic system.
I have spoken to GE Money and have requested that they use this system to get it done today for it be taken of for next week.
We note if we don’t complete this month we will have to pay the vendors mortgage.
As GE have been told about this. there is no reason they couldn’t remove the charge today.
The Question
If they fail to do this in the time frame needed to insure we complete this month can we claim damages from GE.
Negligence for not removing the charge 6 years ago?
Further Negligence for not expediting this request knowing full well that we stand to face financial penalties due to their lack of speed to resolve the issue?
Solution
What I want to do:
Is speak to the director of GE Money and/or the Solicitor’s to confirm the exact process of removing the charge of the property.
I also what to confirm from a legal standpoint that they stand to lose as a result of not acting fast enough to resolve an issue they solely created. So any financial damages we incur they will have the pay for.
Locate a solicitor that can do to it quicker
Please advise if my solutions are correct as the goal is to put legal pressure on GE-Money to update the charge today. If not, raise the case that they will have pay for damages due to their delays they caused..
Leonard T.
100% (4)Projects Completed
3
Freelancers worked with
3
Projects awarded
22%
Last project
30 May 2018
United Kingdom
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