Re-Mortgage Application After Transfer of Equity

Snookie12cat

Land_Registry said:

An 18 month timescale is more than cautious. But the Q is whether the property registered or not? 

If it is then the 18 months is way off the mark and the other suggestions may well work for some lenders 
But from a purely registration perspective the timescale is irrelevant as the key factor will be your having a mortgage offer to support the request to expedite 

@Land_Registry

Can you let me know how to expedite registration? I am looking to remortgage shortly after purchase but the lender requires the property to be registered. Can I get it expedited for this reason?

Land_Registry

Snookie12cat said:

Land_Registry said:

An 18 month timescale is more than cautious. But the Q is whether the property registered or not? 

If it is then the 18 months is way off the mark and the other suggestions may well work for some lenders 
But from a purely registration perspective the timescale is irrelevant as the key factor will be your having a mortgage offer to support the request to expedite 

@Land_Registry

Can you let me know how to expedite registration? I am looking to remortgage shortly after purchase but the lender requires the property to be registered. Can I get it expedited for this reason?

You can request expedition as explained here 
https://www.gov.uk/guidance/request-an-expedite

bubby08

Sorry what do you mean is the property registered? The process I am undertaking is to make me the registered owner and I thought this was the purpose of the AS1 form. Apart from for this process I haven’t used a solicity because prior to this the property was involved in a length probate process. From what I am understanding ownership(changing of the title) and this registration you have mentioned are two different things???

thanks

Snookie12cat

bubby08 said:

Sorry what do you mean is the property registered? The process I am undertaking is to make me the registered owner and I thought this was the purpose of the AS1 form. Apart from for this process I haven’t used a solicity because prior to this the property was involved in a length probate process. From what I am understanding ownership(changing of the title) and this registration you have mentioned are two different things???

thanks

I believe if it's the first registration (so not been sold since in decades) then that takes a lot longer. 
If it's already registered and just a change of ownership that's dealt with much faster..

Land_Registry

bubby08 said:

Sorry what do you mean is the property registered? The process I am undertaking is to make me the registered owner and I thought this was the purpose of the AS1 form. Apart from for this process I haven’t used a solicity because prior to this the property was involved in a length probate process. From what I am understanding ownership(changing of the title) and this registration you have mentioned are two different things???

thanks

Form AS1 is the prescribed form used by an executor to transfer the legal ownership of a property to a beneficiary. 

You referred to an 18 month wait time which is a very long wait time. 

An application to update a registered title could wait 3-4 months. Not 18. 

An application to create a registered title, a first registration, where the deceased owner perhaps owned the property for 31+ years, could wait 11 months. Not 18. But as that timescale is much nearer 18 I asked the Q to see the property you are dealing with was registered or not. 

bubby08

Right, I follow. Thank you so much. I am going to check. If the property is not registered can this not be expedited as part of a mortgage application the same way the change of title can?

bubby08

Having spoken to the conveyance solicitor the property is already registered and they are ‘registering the transfer’ to me.

Where does that leave me. 

Best Regards

Land_Registry

It leaves you as explained and the 18 months is way off the mark. 

Submit.Then request expedition

user1977

bubby08 said:

Having spoken to the conveyance solicitor the property is already registered and they are ‘registering the transfer’ to me.

Where does that leave me. 

If you're speaking to the conveyancing solicitor anyway, wouldn't it be best just to get them to advise you?

bubby08

Yes you would have thought so, but they a so linear in the sense that all they want to do is talk about the transfer of equity. I have gained some clarity that the process they are undertaking is the transfer of title and registration although the only form they have had be complete is the the AS1 ??? 

So I guess from this point, now I just need to understand the implications if any, of submitting this transfer prior to making a mortgage application?

Thank you in advance again everyone .