• Who Gets Paid First When There Is Charging Order On The Property?

    By Guest on 05th Oct 2020

    We have had a Completion statement thorugh but I think there may be 2 mistakes. The sale took place in January 2020. There are 2 Charging orders (mine: interim 21 Oct 2019, final 6 Dec 2019). The other order (Judgement Feb 2019) is from the creditor (say, company B) that forced the sale of the property and was against the husband (not the wife) as mine was. There was a charge by the bank / mortgage company that pre-dated (2012) these charges. I was told that Company B have a first charge after the bank as this was obtained by them before he property was re-mortgaged.
    Company B's lawyers presented an order that their client obtained in Jan 2020 granting them costs.
    I beleive there are 2 errors:
    1) The completion statement shows the bank taking their money first, not Company's B claim (agains the share of the husbands interest). Had this been deducted in this way, then there would be more in the "pot" for other charge holders like me.
    2) Company B's lawyers took their fees before our Order was extinguished/ repaid. Yet those costs were only awarded in Jan 2020 (after our order in 2019). I tihnk that they have take this out in the wrong order so reducing our claim (becuase there was limited residual left in the estate).
    Can you confirm or otherwise? Thnak you.

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