Land Registry question

GDB2222

We have sold a property recently, with a delayed completion due in a year's time. The buyers made a search at the LR about two weeks after exchange, and they have repeated it today, around 28 business days later.

Are they going to do this every 30 business days until completion?

I must admit that I assumed they would only need to do this in the run-up to completion, which is not for another 10 months or so.

Tiglet2

Might be the solicitor renewing the OS1 to protect the lender's priority - they only last 30 days.

da_rule

If the buyers want to spend £3 a month between now and then then so be it. Also, it's probably the lender insisting on it (assuming they have a mortgage).

Land_Registry

GDB2222 wrote: »

We have sold a property recently, with a delayed completion due in a year's time. The buyers made a search at the LR about two weeks after exchange, and they have repeated it today, around 28 business days later.

Are they going to do this every 30 business days until completion?

I must admit that I assumed they would only need to do this in the run-up to completion, which is not for another 10 months or so.

Only they can answer that question but as others have posted they may have been asked to do so by the lender.

In reality it offers them very little protection as they are not renewing priority each time but simply creating a fresh priority period. If another application was submitted their pending OS1 would only protect them for it's priority period. And if the protected application is not going to happen until say their 12th OS1 is in play numbers 1 to 11 aren't going to 'protect' it seems.