Mortgage on a title that doesn't exist

PIP426

Hi

I am hoping someone can give me some advise, basically my solicitor didn't complete the tp1 transfer of part with the land registry when i cut my house in to two properties, and now I have 2 mortgages on property that technically do not exist and my title states that no one has a charge against my property.

Where do I stand legally? Do I owe the 2 mortgages or has my solicitor won me the lottery?

davidmcn

You still owe the money, what the lender has a security over is their problem (though they can ask you to sort it out if they become aware).

PIP426

Hi Davidmcn

But if I make them foreclose on The mortgage, surely they have nothing to repossess?? And I get they can ask me to sort it but legally can they make me, now I get it's a moral dilemma but not one I would lose sleep over if I'm honest

AnotherJoe

Yes they can force you to rectify this in the same way that a mistake in their favour that dispossessed you could be rectified

davidmcn

PIP426 wrote: »

But if I make them foreclose on The mortgage, surely they have nothing to repossess?

Yes, but they can still pursue you for what you owe them. So potentially you end up bankrupted and having your property sold anyway. Not exactly "winning the lottery".

I would just get your solicitor to sort out the title problem, given it will be a headache whenever you come to sell or remortgage.