Redeemed a mortgage without Solicitor

mfz1

It does say there is a restriction on the original title, simply no disposition allowed without written confirmation. It appears to me that ARB, created a sub lease.

I need to get the latest title deeds. I will then feedback.

mfz1

Would someone be kind to explain what this means?

`RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated 3 January 2013 in favour of BANK referred to in the Charges Register.`

 Does it mean I need written consent from the bank?

kingstreet

mfz1 said:

Would someone be kind to explain what this means?

`RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated 3 January 2013 in favour of BANK referred to in the Charges Register.`

 Does it mean I need written consent from the bank?

Yes. The charges register will show the lender's details and it will have to authorise the removal of its charge before any sale or transfer can take place.

TBG01

kingstreet said:

mfz1 said:

Would someone be kind to explain what this means?

`RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated 3 January 2013 in favour of BANK referred to in the Charges Register.`

 Does it mean I need written consent from the bank?

Yes. The charges register will show the lender's details and it will have to authorise the removal of its charge before any sale or transfer can take place.

Which is what the DS1 is for.

pjs493

chrisw said:

 I have redeemed two mortgages recently, Nationwide and Birmingham Midshires, but didn't have to do any paperwork, I phoned them up to get a closing balance for the day I planned to pay it off and just transferred the money by bank transfer. I had to do it over several days due to the transfer limits. The banks themselves removed their interest from the land registry, I downloaded the title deeds a bout 6 months after just to ensure they had, and they had.

This was my experience when I paid off the mortgage of a rental property owned by my late husband. Once the lender received the Grant of Probate they set a date for payment and sent out the redemption letter. It didn’t arrive by the agreed date so I called, got the figure over the phone, and then made a bank transfer to clear the balance. 

Unsurprisingly, my bank stopped the payment and I got a call from the fraud team doing due diligence. Once that was sorted the payment went through. The bank said it would take a couple of weeks for them to update the Land Registry. 

After waiting the allotted time, I paid for a copy of the deed and they had indeed removed themselves from it. A couple of weeks after that I received a small refund because I’d accidentally been charged one of the early redemption related fees that I shouldn’t have been charged due to the circumstances under which I was paying off the mortgage. 

I didn’t have to fill in any forms, the paperwork I was sent was for my records, information purposes only. They only thing they needed from me was the death certificate and Grant of Probate so they knew they were dealing with the correct person. I think I also provided them with my ID via an online portal when I first made contact. 

mfz1

Ah ok good information. I have the DS1 form filled out by the lenders solicitor already. Along with the power of attorney, so I suppose that is already done.

yasirarbi

Hi
i I am in the exact same position now, have been sent the relevant release documents by Al Rayan. How easy did u find the process to do this yourself. I would be grateful for some guidance, else I might just have to use the solicitors. 

Thank you.
Regards
yas 

housebuyer143

yasirarbi said:

Hi
i I am in the exact same position now, have been sent the relevant release documents by Al Rayan. How easy did u find the process to do this yourself. I would be grateful for some guidance, else I might just have to use the solicitors. 

Thank you.
Regards
yas 

You just get a redemption statement and pay them on the date you agree. Then it's closed. You definitely don't need a solicitor.

user1977

housebuyer143 said:

yasirarbi said:

Hi
i I am in the exact same position now, have been sent the relevant release documents by Al Rayan. How easy did u find the process to do this yourself. I would be grateful for some guidance, else I might just have to use the solicitors. 

Thank you.
Regards
yas 

You definitely don't need a solicitor.

I don't think you've read the thread?

housebuyer143

user1977 said:

housebuyer143 said:

yasirarbi said:

Hi
i I am in the exact same position now, have been sent the relevant release documents by Al Rayan. How easy did u find the process to do this yourself. I would be grateful for some guidance, else I might just have to use the solicitors. 

Thank you.
Regards
yas 

You definitely don't need a solicitor.

I don't think you've read the thread?

Ha ha probably not!