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Shared Ownership New Build - Land registry woes
chairmanofthebored
Posts: 36 Forumite
Hi All
I am purchasing a shared ownership with a mortgage from Kent Reliance and have hit a potential issue regarding land registry backlogs.
The application to transfer the title to the housing association was submitted last July but as yet this has not been done. A request to expedite was submitted over a month ago but apparently due to this being part of a large housing development this will have no effect on the speed at which it is processed, it could be at literally any point in the future on an undetermined timescale.
We're now in a position where the housing association's solicitors are pushing to exchange before the title is registered but our solicitor is telling us that we first need to notify our lender of this situation, the outcome of which might be that they withdraw their offer.
Has anyone encountered this issue before, specifically with Kent Reliance as a lender? We're now several months into this process and were hoping to exchange soon but now we're looking at being pushed back to square one due to issues completely outside of our control. We really had hoped that this sort of uncertainty would be behind us once the mortgage offer came through.
I'd be interested to hear anyone else's experiences.
I am purchasing a shared ownership with a mortgage from Kent Reliance and have hit a potential issue regarding land registry backlogs.
The application to transfer the title to the housing association was submitted last July but as yet this has not been done. A request to expedite was submitted over a month ago but apparently due to this being part of a large housing development this will have no effect on the speed at which it is processed, it could be at literally any point in the future on an undetermined timescale.
We're now in a position where the housing association's solicitors are pushing to exchange before the title is registered but our solicitor is telling us that we first need to notify our lender of this situation, the outcome of which might be that they withdraw their offer.
Has anyone encountered this issue before, specifically with Kent Reliance as a lender? We're now several months into this process and were hoping to exchange soon but now we're looking at being pushed back to square one due to issues completely outside of our control. We really had hoped that this sort of uncertainty would be behind us once the mortgage offer came through.
I'd be interested to hear anyone else's experiences.
In the beginning the Universe was created. This has made a lot of people very angry and has been widely regarded as a bad move.
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Comments
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Hi. sorry I don't have any advice but interesting to know what would happen. Did you find any answers?0
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Hey, I’m in a similar position! Has yours managed to progress?Offered on house 7 Feb, I’ve just had my searches report back after delays getting the legal pack from housing association solicitors. Everything seems fine other than they delay to change title from Bellway to EMH. Until this done I’m unable to proceed. It was expedited with land registry in Feb but it hasn’t moved at all since!0
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Rather than bumping a load of old threads, you'd probably be best to start your own.Melcooling1 said:Hey, I’m in a similar position! Has yours managed to progress?Offered on house 7 Feb, I’ve just had my searches report back after delays getting the legal pack from housing association solicitors. Everything seems fine other than they delay to change title from Bellway to EMH. Until this done I’m unable to proceed. It was expedited with land registry in Feb but it hasn’t moved at all since!1
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