I was looking at buying at the Allsop auction tomorrow and have had a solicitor had a look at the documents on line. On the property I am/was thinking of bidding on, there is a judgement mortgage for a debt registered after the main mortgage held by the bank. The special conditions say that there will be no release of any mortgages other than the banks mortgage and I am inclined to walk away at this point except that, contrary to what I have read on this site, my solicitor is saying that the Land Registry are telling him that when I buy the property the judgement mortgage will "fall away" and I will be left with a clean title. Apparently this is relatively new practice of some sort. This doesnt sound right to me and I am slow to rely on a conversation with the Land Registry which may or may not turn out to be the case after the hammer comes down.
Anyone heard of this practice of the Land Registry?
Anyone heard of this practice of the Land Registry?