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Delays on new build purchase due to potential land registry issue
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Yo_Papako
Posts: 4 Newbie
Hello,
I started the process of buying a flat in February and still don't have a completion date. I was told it would be this month, but Barclays have had to extend my mortgage offer until January as they won't release the funds due to a land registry backlog.
Is anyone else experiencing a delay like this? It's now going into the 8th month and I know the flat has already been built since April. It's just sitting there empty.
My solicitor tells me it's unusual for a lender to not proceed to a completion date due to this land registry issue, but here we are!
I'd really be interested to find out from everyone else.
Thank you,
Eva
I started the process of buying a flat in February and still don't have a completion date. I was told it would be this month, but Barclays have had to extend my mortgage offer until January as they won't release the funds due to a land registry backlog.
Is anyone else experiencing a delay like this? It's now going into the 8th month and I know the flat has already been built since April. It's just sitting there empty.
My solicitor tells me it's unusual for a lender to not proceed to a completion date due to this land registry issue, but here we are!
I'd really be interested to find out from everyone else.
Thank you,
Eva
0
Comments
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What exactly is the "land registry issue"?0
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The LR is massively (18 months or more) behind. There is theoretically a "fast track" process to prioritise cases like this, but the backlog is now so bad, it's getting to the point where everything is urgent, meaning nothing is urgent. It's a total and utter shambles. I would advise the OP against holding their breath.0
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But does a headlease even have to be registered with the land registry before a lender can release funds? I just feel like I'm being screwed over here!0
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@jimbo6977 what does OP mean? And are you facing the same issue?0
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OP means Original Poster (you) or sometimes Original Post.0
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OP - Either 'original poster' or 'original post'.1
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