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Land registry question

(5 Posts)
alexadot Sat 25-Mar-17 21:41:33

My brother in law and wife (my younger sister) bought my mother's house about four years ago for £400,000. While looking on the land registry recently we saw it was bought for £500,000 (though my mother received £400,000). Can anyone explain this to me?

wowfudge Sat 25-Mar-17 21:51:00

Vendor assisted deposit? Purchase price £500k but only £400k changed hands. Gives the purchaser a better loan to value for mortgage purposes.

Land Registry error? It happens...

Or is it a "value stated" entry rather than a "price paid"? In which case it may not represent the amount your mum received.

You can apply to get a copy of the Transfer document on form OC2 if you wish.

www.gov.uk/government/uploads/system/uploads/attachment_data/file/545838/OC2.pdf

alexadot Sat 25-Mar-17 22:19:08

Thanks Fudge, think I understand the situation now.

alexadot Sat 25-Mar-17 22:20:10

Thanks very much Starling for the link.

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