First time buyer: registration of Inhibition in Land Registry (NI)

DMF235

Afternoon all, I'm currently going through my First House Purchase and even though I thought i'd agreed most anything I've now got a letter from the solicitor saying the lender requires that upon registration of the new mortgage an Inibition has to be registered at the Land Registry. They state the Land Registry fees are £70 and their fees are £75+vat.

Just looking to find out if this is normal and if it is should the fees not have been included in the Conveyancing quote?

I thought it was a standard 5 year fixed with the Britannia/co-op

Cheers

DMF235

Hi,am I in the right part of the forum with this one?

Cheers

DVardysShadow

It is a difficult one - people here may say it belongs with the housing forum, people on the housing forum may say it belongs here.

The first question is have you asked your lender for an explanation as to why? From a quick google, this looks to me to be more than the normal registration of a charge - which like you I would expect to be included in the quote. So I am wondering whether you or anyone associated with you or the property is at risk of bankruptcy or similar. If you ask the lender, you will probably get an answer which points to any specific circumstances, but is poor in explaining the technicalities.

DMF235

Morning DVardysShadoq, cheers for the reply, I'll have a word with them tomorrow. With regard to the bankrupt idea, i'd hope not - its just me. And as far as I know from the process theres no issue with my credit score or anything. Earning just under £21k, borrowing £85k, putting down £15k. So it'll be interesting to find out...

DVardysShadow

Come back with the answer please. Ask both the lender and your solicitor.

DMF235

Apparently its nothing to much to worry about, spoke to Land Registry and they said it was reasonably common, spoke to the solicitors and they said i was pretty standard for the Britannia and a few other lenders, if anyone disagrees i'll check with the lender,
Cheers
Des