Property Charge Orders

Please could anybody advise me what will happen in the future with regards to a charge order we have on our property. We recieved the order for non-payment of a bank loan. It has been active now for about 7 Years. I have been doing some to research online a came across the Limitation act 1980, section 20 seems to apply to my circumstances. I could do with it being explained in layman's terms what will happen after 12 years. Will the bank seek another charge order? will they look at forcing resolution before then, through force sale, etc?

There is nothing in the

There is nothing in the Limitation Act to help you in these circumstances. Section 20 does not asssist you. A charging order can be enforced more than 12 years after it was made.  As to when or whether the bank will seek to enforce its security, that is a matter of wait and see.   The amount that is secured by the charge will be repayable whenever the property is sold.

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