Legal question how long to register title after remortgage?

Biggie

I'm due to complete on a remortgage (Buy2Let) on my property today but it's also being sold which is under progress.

- How long will it take to register the new mortgage interest on the title deeds ?
- When can my sale solicitor obtain a new version of the deeds ?
- When will my sale solicitor need to give the updated title deeds to the purchase solicitor ? Can it done just before exchange ?

My understanding is that I can't exchange contracts untill my sale solicitor can get hold of the new updated title deeds and that can take upto 4-6 wks.

Biggie

any legal people out there who are able to answer

subjecttocontract

I'm not a conveyancer or solicitor.....but I've bought a lot of property over the years.

Worse case scenario is....it can take up to 6 months if your solicitor has missed requirements like a restriction in the deeds.

I would say 6-8 weeks is more the norm.

Many BTL mortgage lenders will not offer mortgages unless the property has been in the current owners possession for 6 months. I've always assumed this is to ensure that the deeds have been updated.

Richard_Webster

My understanding is that I can't exchange contracts untill my sale solicitor can get hold of the new updated title deeds and that can take upto 4-6 wks.

Not far off, I'd say. Possibly a bit quicker. The difficulty you have is that your remortgaging solicitor is probably a factory outfit and once they have completed the registration won't be the highest priority. Also they will have to wait for a discharge to come through from your present lender. It could be quicker but you will have to keep pushing them.

Why on earth did you incur the costs of a remortgage if you were going to sell? If I was acting for you on a sale I would have told you not to do it.

Biggie

thanks Richard,

I will keep pusing to make sure they register the title deeds asap.

I had to remortgage as a bridge between my sale and purchase, had to basically buy chain free to get a look in. It wasn't Ideal but my Mortgage broker found me a buy2let mortgage with all fees paid for and no redemption fees. Intrest rate is a little higher then usual though.