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AIBU?

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Original poster

To think we can save the chain by tomorrow?

10 replies

savethechain · 05/12/2022 21:37

Totally not an AIBU but posting for traffic in the hope someone can help!

Property being sold (empty, deceased relative) and buyer's buyer has a mortgage offer - expiring tomorrow.

This morning, solicitor notices "notice of deposit of land certificate" on title deeds. Says title needs to be rectified prior to exchange and completion. (Solicitor's incompetence is another thread).

Given the mammoth delays at Land Registry, is there ANYTHING we can do to save the chain? Title guarantee insurance? Help please!

OP posts:
Original poster
savethechain · 05/12/2022 21:38

To add - buyer's buyer cannot obtain another mortgage so the whole thing definitely falls over if it cannot be saved tomorrow.

OP posts:
Original poster
savethechain · 05/12/2022 22:16

Anyone?

OP posts:
alasangne · 05/12/2022 22:19

Your solicitor or theirs?

CloudyYellow · 05/12/2022 22:22

Insurance to cover whatever has not been sorted out? We had exchange and completion on the same day but something was not right with the paperwork so solicitor got Insurance to cover if any problems.

Overthebow · 05/12/2022 22:23

Can buyers buyer and buyer complete anyway and your buyer move into rental until this can be resolved?

GU24Mum · 05/12/2022 22:27

The title doesn't need to be rectified but a form needs to go to the Land Registry (and it can go when you register your transfer) to get rid of the notice.

The problem is that it's an old-fashioned way of a lender protecting its charge on the house so someone is going to have to try and get in touch with the lender and get them to check their records and provide the form. Assuming the charge was paid off (though it probably was).

Good luck.

Original poster
savethechain · 05/12/2022 22:32

GU24Mum · 05/12/2022 22:27

The title doesn't need to be rectified but a form needs to go to the Land Registry (and it can go when you register your transfer) to get rid of the notice.

The problem is that it's an old-fashioned way of a lender protecting its charge on the house so someone is going to have to try and get in touch with the lender and get them to check their records and provide the form. Assuming the charge was paid off (though it probably was).

Good luck.

That's interesting, thank you. So we could still exchange and complete tomorrow? Apparently there is a letter showing mortgage was paid off and it was being taken to the lender this afternoon?

OP posts:
lawandgin · 05/12/2022 22:33

This reply has been withdrawn

This message has been withdrawn at the poster's request

Original poster
savethechain · 05/12/2022 22:34

alasangne · 05/12/2022 22:19

Your solicitor or theirs?

Ours.

OP posts:
GU24Mum · 05/12/2022 22:54

If the lenders will provide the forms then you should be able to lodge them when you buy rather than going via the Land Registry but it's a specific form not just a general letter. Banks can often be pretty good when push comes to shove. This comes with the caveat that this is an old-fashioned arrangements plus I don't know the facts.

You hopefully have someone competent at the law firm and prepared to get on the phone and do what they can.

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