TR1 form submission timescale?

kopper

Hi
I'm currently remortgaging my property and taking out equity as well as adding my wife to the Title Deeds.
Even though the Bank has given us the mortgage offer, their Conveyancer will not release the funds until the Transfer of Equity is completed for adding my wife to the Deeds.

We have completed and returned the TR1 form but does anyone know how long the Land Registry take to process this? Also, do banks release funds for the mortgage before the land registry makes amendments?

Thanks

davidmcn

The transfer of equity is done at the same time as the remortgage. If you need to know the timescales then ask the conveyancers.

Land_Registry

The current average timescale if all is in order is 6/7 working days from receipt to registration

leanneq

Hi
I’m currently remortgaging with a transfer of equity. I’m adding my husband so the house is joint names. What is the current timescales? Does the registration happen after completion. I don’t understand how it happens simultaneously?

davidmcn

leanneq wrote: »

I don’t understand how it happens simultaneously?

It happens simultaneously in the same way as when you bought - you buy the property and start your new mortgage at the same time.