Missing Land Registry Document

lau_dicker

Hi all,

We bought our house in February 2011 (no mortgage) and recently, our situation has changed. We are now mortgaging some of the value in the property. We have applied for the mortgage and are currently sorting out the documents with the solicitors. There apparently is a missing document from the first time the house was registred.

'The Land Registry records show that 1 title document was missing when the title of your property was first registered.
The terms of the missing document may have contained rights and/or restrictive covenants which still apply and could have an adverse effect on the value of your property'

'Dealing with the missing document issue is likely to be outside the scope of any free component of the legal package attached to your mortgage offer. Additional costs are likely to arise that you will pay, including solicitors costs of £(please contact us for the amount) and insurer's costs of £40.38 + IPT (total £42.80). Title insurance helps manage the risk for the bank only and not you'

I have asked for the cost of getting this document, but is there an easier/cheaper way of getting it than going through the solicitors? And is it necessary for the mortgage?

Thanks

GMS

Why was this not picked up when you bought the property?

Mortgage lender will dicate what is needed here as it is their security.

lau_dicker

Should our solicitor have picked it up even though we weren't getting a mortgage when we bought it?

GMS

Would have thought so as it is title related. However if you were happy to proceed without them then they could act accordingly.

A cash purchase should be treated in the same way as a mortgaged one to ensure everything is correct unless the conveyancer has been directed otherwise by the buyer.

Go back to the solicitors and ask them why this information was missing and what they did to resolve it. There may already be a Title Insurance policy in place to cover it.