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Remortgage: Removal of my name from the Register of Title - Help!

edited 30 November -1 at 1:00AM in Mortgages & Endowments
2 replies 481 views
cheekeemonkeycheekeemonkey Forumite
167 Posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi all

We’ve just received a letter today from the solicitors acting for Britannia and they say

“In order to complete the mortgage in favour of our client, Britannia it will be necessary to remove the name of XXXX from the register of title”

It then gives two option of (i) we engage our solicitor to prepare the documentation or (ii) we pay them £150+VAT to do this

I need to call them tomorrow/Friday but our question is why would I be removed from the title deed? Is this normal practice? What is the impact?



Also, they are asking how we want to own the property:
Joint Tenants
Tenants in common in equal shares
Tenants in common in unequal shares


Any advice greatly appreciated

Thanks
CM
Failure is not in falling down but in not getting back up again

Replies

  • Not enough information here to comment on first part of OP. But seems to be in conflict with the second.

    Simplifed answer to second part:

    Joint Tenants - both own all the property jointly - transfers to other on death of first.

    Tennants in Common - both own part of property which lapses to dead party's estate on death (may be in equal or non-equal shares).

    Most people ignore the imporatnce of this item and plum for Joint Tenancy but there are a miriad of circumstances which should be considered within the decision (again insufficient information here for any useful comment). Take qualified advice (may be the best money you ever spend).
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  • edited 1 July 2010 at 11:06PM
    cheekeemonkeycheekeemonkey Forumite
    167 Posts
    edited 1 July 2010 at 11:06PM
    Thanks SPM

    I admit I am confused by this and will be speaking to their solicitors tomorrow and then taking advice as this doesn't feel right but as it is only the second time we hav remortgaged apart from one house move I have little experience to go on!


    Edit: called this morning - solicitors had put my name on in error - it was meant to be my wifes(!) Spoke to Britannia - they had in error, instructed solicitors that it was a single applicant mortgage despite all the documents etc.

    All in all two annoying errors by them - not happy but more relieved than anything else!
    Failure is not in falling down but in not getting back up again
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