Second charge

Hi, 

I have a second charge which has been paid and over 3 years old, i am going through a refinance to secure funds for my mortgage arrears to avoid repossession.

When my solictor applies today can this be completed within 2-3 days otherwise i could face losing my home.

I have an offer already in place

Hi Sultan - that will depend on a few key things. The first is them lodging it and then requesting expedition separately.
The second is what charge and ho it is being removed - if it's a legal charge and a paper DS1 then wider checks will be needed and the timescale will be stretched markedly as a result
If it's an electronic discharge then it can be done in seconds but I suspect it's not hence your asking

Thanks Adam,

They will lodge today so hoping can be done within a few days. 

Not sure difference between electronic and legal charge - the second charge issues was for funds i took out... 

How can you check if the second charge put on was electronic?

 

Sultan - it's not what was put on but what's submitted to remove it. I suspect if your solicitor is applying then it's not the lender removing their own charge electronically. 
As such the solicitor needs to request expedition separately. 
How long it then takes before the register updates is dependent on what's submitted and what checks (if any) are needed
Your solicitor should be able to clarify that for you