Changing boundary

Red-Squirrel_2

If both parties agree on where to put a new boundary between their properties, does anybody have an idea of what sort of costs they'd be looking at to get it changed officially on both sets of deeds?

Errata

Do both parties have a mortgage on their property?

G_M

Errata wrote: »

Do both parties have a mortgage on their property?

Do either party have a mortgage on their property?

See

Practice guide 40: Land Registry plans

Red-Squirrel_2

Errata wrote: »

Do both parties have a mortgage on their property?

One definitely would, I don't know about the other yet, may have more info tomorrow!

Red-Squirrel_2

G_M wrote: »

Do either party have a mortgage on their property?

See

Practice guide 40: Land Registry plans

Ooh, that's very dry reading for a lay person!

Forgive me, I've skimmed but can't see the mention of mortgages, where should I be looking?

Thanks

G_M

There is no mention of the mortgage in that link.

Any alteration to the Land Registry Title, whether related to a boundary, a covenant, a change of ownership, any change at all, would need the consent of anyone with a 'Charge' (mortgage) on the property.

The link outlines the way boundary matters can be dealt with (which is what you asked). If you go down the route of registering the new boundary against the titles, then you'd need morgage lender approval.

Red-Squirrel_2

G_M wrote: »

The link outlines the way boundary matters can be dealt with (which is what you asked).

Well, technically I asked about potential costs.

Thanks for the link though, will have a read.

G_M

The costs will depend on which prcesd you use. Decide how you want to proceed, then investigate the costs involved!

loveka

We changed land registry plans recently- change of right of way rather than boundary, but similar.

It cost £50 for approval from our mortgage lender. We just had to put what we were doing in writing for them to approve.

Solicitors costs were £800 incl.VAT. We were paying our neighbours costs too That included land registry fees.

The garden law forum was a mine of information to us!

Land_Registry

From a registration perspective the 'costs' depends on what it is you then seek to register.

Most 'new boundaries' go up where the old one was or pretty close to it so nothing really changes and there is no need to update the title simply because that shows the general boundaries and not the exact legal boundary.

But sometimes neighbours want to formalise such things so I suspect they might consider the Determined Boundary option as referred to in the online guidance - the registration cost for that is £90 but such applications remain fairly rare.

If the new boundary represents a significant change of land ownership, so not just a few inches/cms, then the change of ownership is likely to mean the need for a legal Transfer to be completed whereby the land is transferred/exchanged from one neighbour to the other. The registration fee in such examples is normally £40 as the value of the land will be quite small.

As others have posted if the properties are mortgaged then the lender(s) will need to be advised/involved and they may insist, depending on what route you choose, that you use a conveyancer. Their consent may also be required.

Red-Squirrel_2

Thanks for the replies, very helpful!

If the new boundary is to change a shared area into two discrete areas, one now belonging to each property, I'm guessing the legal transfer will need to be done, as each party is both giving away and receiving a bit of land?