Register inhibition, what is it ?

maveli

Hi,
I remortgagged to HSBC in April-2008 and used a local solicitor to complete the leagl side. I paid around $500 for this out of which $70 was for land registry fee. All this was completed in April and the fee was paid. Today after almost 3 months later I got a letter from solicitor asking me to pay an extra $50.00 for registering an inhibition on HSBC's favor with the Land registry. I don't understand what this is and why I should pay another $50.00 after 3 months ? Any help in understanding this is greatly appreciated.

Thanks
Maveli

bigturnip

Are we talking £ or $ here? We're not the 51st state of America just yet. Anyway, there is no charge for registering an inhibition with the land registry, there will be a charge for your solicitor's time and that is what I guess this charge is for. It is probably set out in the original agreement.

The more worrying point is why HSBC sought an inhibition order in the first place, it basically prevents you from selling your house for 5 years.

maveli

Sorry for the $ sign. Thae laptop at home is mapped to $. Here is the ££££

I don't have clue why HSBC want this. I will give them a call today