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Remortgage refused on Completion day.
davenottingham
Posts: 79 Forumite
Hi
Some weeks ago I completed on extending the Long Term Leasehold of my flat by 90 years (at considerable expense!). The only thing pending was registering the new deed at the Land Registry.
Completely separate from this, I was due to complete on a remortgage today with HSBC.
I was called this morning by HSBC's solicitor's O'Neill Patient stating that they cannot complete.
O'Neills explained that an application has been lodged by another firm of solicitors at the Land Registry and until the application is complete at the Land Registry, my remortgage cannot complete.
The main concern is that my remortgage offer will expire and my good tracker rate (+2.09% above BoE base rate) will disappear out the window.
(I have heard that you can request that the solicitor who did the Lease Extension can give hsbc priority over your application to register the lease extension).
Does anyone else know how long it takes for an application at the Land Registry to be registered for a remortgage?
Hope this is clear!
Some weeks ago I completed on extending the Long Term Leasehold of my flat by 90 years (at considerable expense!). The only thing pending was registering the new deed at the Land Registry.
Completely separate from this, I was due to complete on a remortgage today with HSBC.
I was called this morning by HSBC's solicitor's O'Neill Patient stating that they cannot complete.
O'Neills explained that an application has been lodged by another firm of solicitors at the Land Registry and until the application is complete at the Land Registry, my remortgage cannot complete.
The main concern is that my remortgage offer will expire and my good tracker rate (+2.09% above BoE base rate) will disappear out the window.
(I have heard that you can request that the solicitor who did the Lease Extension can give hsbc priority over your application to register the lease extension).
Does anyone else know how long it takes for an application at the Land Registry to be registered for a remortgage?
Hope this is clear!
0
Comments
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Not too long. You could ask the solicitor dealing with the leasehold extension how long it would take.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
Thanks- I've put the question.
I would have never realized that a Lease Extension could interfere with the completion of Remortgage application.0 -
My solicitor states that the registration will be complete 'shortly'.
Is it worth contacting the Land Registry to get a more helpful response?0 -
davenottingham wrote: »My solicitor states that the registration will be complete 'shortly'.
Is it worth contacting the Land Registry to get a more helpful response?
I doubt LR will be any more precise.0
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