What happens if there is a charge on my property?
If there is a charge on your property, it means a lender or third party has a legal interest that must be settled when you sell.
The most common type of charge is a mortgage, but there can also be:
- Second charges or secured loans
- Charging orders from creditors
- Equity loan schemes
When the sale completes, these charges are paid off from the sale proceeds before any remaining funds are released to you.
Your solicitor will identify all registered charges and obtain the amounts required to clear them. This ensures the buyer receives the property with a clear title.
While charges are common, multiple or complex charges can slow down traditional sales.
Sell House Fast buys your property directly and works with your solicitor to ensure all charges are cleared as part of the process. To understand what you could receive after any debts are settled, you can request a free cash offer to see what we’d offer for your property.
