HSBC Remortgage Land Registry Restriction

steveh2001

Hi
I am going through a remortgage with HSBC and have noticed a restriction on the mortgage deed which will be added to my title deeds at the land registry.

‘No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of charge dated xxx in favour of the HSBC bank plc referred to in the charges register’

I read this as I can’t remortgage or sell in the future without their permission? Is this normal for a remortgage? I don’t seem to have this restriction on my current Nationwide mortgage when reading the title document from the land registry?

Thank you
Steven

Time2go

All it means is you can't sell the property or remortgage without telling them pretty standard. Otherwise you would be able to sell runaway with money and they could miss out on getting their money back.

steveh2001

Thank you.

I know HSBC have some differences in their t’s and c’s so wanted to be sure.

Thought it does say it needs their written permission, in practise is this a problem? Does it delay proceedings if you are trying to sell?

Is it normal with most lenders?

Land_Registry

It is normal and just about every major lender includes this type of restriction.
It has no impact when you come to sell as the impact ios from paying off the mortgage itself and when that happens the registered charge is removed and the restriction goes with it.

steveh2001

Thank you both and I’ve now heard it straight from the land registry so can’t argue with that!

Cheers
Steven