End of mortgage and Deeds??

MABLE

DanW87 wrote: »

Does it not depend on when the house was built if the deeds are electronic or not? I bought a new build a few years ago where the deeds where electronic but then moved to an older house where the deeds are now with the nationwide until the mortgage is paid.

We have a NW mortgage on a Victorian property and a few years ago NW returned all the paper deeds to us and said it is now stored electronically so based on that surprised the same is not for you.

GadgetGuru

Ok I went ahead and checked it - for £3 what the hell!

Its been 3 weeks since my mortgage was paid off. The title deeds say I am the registered owner and still have Natwest as the Proprietor?

The last entry under Title Absolute is:

(23.11.2012) RESTRICTION: No disposition of the registered estate by
the proprietor of the registered estate or by the proprietor of any
registered charge, not being a charge registered before the entry of
this restriction, is to be registered without a written consent signed
by the proprietor for the time being of the Charge dated 1 November
2012 in favour of National Westminster Bank PLC referred to in the
Charges Register.


Does the mean Natwest hasn't informed the Land Registry of the mortgage completion yet??

Sorry, Im obviously new to all this!!

terryw

DanW87 wrote: »

Does it not depend on when the house was built if the deeds are electronic or not? I bought a new build a few years ago where the deeds where electronic but then moved to an older house where the deeds are now with the nationwide until the mortgage is paid.

It is not the age of the house that affects registration. If the house is disposed of e.g sale, death or a mortgage is obtained then it must be registered. This applies to all property now but different areas had different dates for compulsory registration as it was obviously impossible to do the whole country at once. The process started about a century ago

For most dwellings it will be quite rare fora property still to be unregistered. The property that is still unregistered is likely to belong to legal entities like the crown, limited companies, trusts etc

Sooner or later these will have to be registered. I look forward to this day and hope the government brings it in sooner rather than later.

terryw

Bashir

Please be patient. The registration may be in hand with the LR now. Sometimes they have a bit of a backlog.

GadgetGuru

terryw wrote: »

Bashir

Please be patient. The registration may be in hand with the LR now. Sometimes they have a bit of a backlog.

Thanks
I assumed it to be a quick process! Lol

Mojisola

DanW87 wrote: »

Does it not depend on when the house was built if the deeds are electronic or not? I bought a new build a few years ago where the deeds where electronic but then moved to an older house where the deeds are now with the nationwide until the mortgage is paid.

No, it depends whether the house has been sold since compulsory registration came in.

Nationwide might be keeping the paper deeds but your property should also be registered with LA.

chanz4

Its not a simple process, the lender has to get it all processed there end, then landregistraion app completed and then for them to complete etc. It took a good month for a registration change when I bought even

Thrugelmir

IftiBashir wrote: »

Thanks
I assumed it to be a quick process! Lol

You are not the only person to have come to the end of their mortgage term.

GadgetGuru

Thrugelmir wrote: »

You are not the only person to have come to the end of their mortgage term.

I wasn't at the end of my term - I just paid it all off in a lump sum early. I just assumed it would be a quick process if everything was electronic.

MABLE

The LR will write to the OP when the transfer into his name is completed and
all he needs to do now is take a chill pill.