Remortgage and amendment of Deed of Trust

IlonaRN

My partner and I bought a house together 2 1/2 years ago, at which time we registered the house in both our names at the Land Registry, and also lodged a Deed of Trust, as we own different percentages of the house.

We are now in the process of remortgaging, and wish to amend the percentages listed in our Deed of Trust.

Would we have to register a new one, or is it possible to just amend the old one?

We paid £280 for the house deeds to be registered when we purchased the house, and an additional £50 for the Deed of Trust to be registered. We have now been quoted £250 (by the same solicitor!) to do a new Deed. Since we would just provide them with a document ready for them to register, this seems somewhat expensive to us. Is there a lot more work involved in registering a new Deed compared to registering the first one?

Land_Registry

In most cases a Deed of Trust will result in what is known as a form A restriction being registered on the title. This restriction does not refer to the percentages but simply indicates that a trust exists.
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Our online Public Guide 18 provides guidance on the two different types of ownership and form A restriction. Section 3 refers to trust deeds and it might be worth asking your Solicitor how the deed will be registered or whether the current registered details are sufficient?

You can check what is registered online - see our FAQ but this may not be necessary if you have the information from the time you bought the property or it has been obtained by your solicitor.