Possessory Title application

aliej

We are in the process of buying a holiday let , the title doesn’t detail the parking space attached to the house. The house has been owned by the vendors for 40 years and they have always used the space , it appears an integral part of the house and the boundaries of the other properties at the back and side are clearly fenced/walled. We have applied for a 25% mortgage and they have a condition that the parking space is registered with possessory title. The vendors were dismayed when we delayed the process for a quote to sort some damp, we’re concerned this will put them off selling to us. How long will their application .. if they agree to do it.. take ? 

user1977

I realise it's a box they'd probably like to tick, but if it's only a 25% mortgage, is the lender really saying that the potential lack of the parking space makes such a huge difference to the value that they wouldn't be prepared to lend?

aliej

I was surprised it was a condition and not just guidance , I think I’ll query it if the vendors get twitchy. 

GoogleMeNow

Could the parking space have a separate title?

canaldumidi

GoogleMeNow said:

Could the parking space have a separate title?

You can do a map search of the Land Registry here.

The commercial site below is a bit easier to use for the search, but do NOT buy the title via them. Identify the Title number and then buy it direct from the gov Land Registry (£3).:

https://www.landregistry-uk.com/map-search