Delayed Entry - old security on land register

LauraG79

Hi


I'm looking for a bit of advice - I'm a first time buyer in Glasgow and in the closing stages with my date of entry being the 25th.


Had a phone call from solicitor today saying there is now a problem and there could be a delay as it appears that a mortgage company who were lending on the property around 10 years ago haven't removed the security? placed on it on the land register..


My solicitor wasn't able to give any idea as to how long this could take as he believed it was a very unusual problem and had no experience in dealing with such a problem.


I'm renting at the moment and have to be out of my flat by Wednesday evening..


I'm not optimistic and wondering where I stand now in relation to costs i'm now going to face with storage and accommodation in the meantime?


Thanks

xylophone

Shouldn't your solicitor have checked the entry at the Land Registry much earlier than this?

http://www.hbcconveyancing.co.uk/index.php/a-guide-to-scottish-conveyancing/

LauraG79

This was all done a couple of weeks ago, but apparently this has just come to light now.
Was caught on the hop by it today getting woken from a night shift sleep, now since the news I've had time to wonder how this can be

dc197

This certianly should not have only just come to light. Anyone can check this at any time and your sol should have done so earlier.

You might be able to stay in rented even after giving notice repending on your tenancy agreement. Just keep paying the rent and they might not be able to chuck you out for a while.

davidmcn

Have you concluded missives? If so then the sellers will be responsible for your costs for accommodation/storage etc if settlement doesn't happen on Wednesday (and if not then it was probably unwise for you to give notice on your current place).

Is this security by the sellers? Or a previous owner? More troublesome if the latter, and less likely to be sorted by Wednesday, but it's possible. Can't really say much else about timescales without more information.

Ideally you'd have found out before now, but your solicitor will normally rely on the sellers to provide the title and searches, and it's hardly unusual for them to only turn up at this stage.