Can someone explain title deeds/equity release please

[namechange40582]

Found out my parents took out equity release and I can't get much information out of them as to who with. I just want to make sure it's not a dodgy firm and that they have a no negative equity guarnette. I have bought the title deeds to see but to be honest I can't understand them very well.
Can anyone advise the company it states at the top as proprietors are a land registers who say they only deal with ground rent. Further down I can see details of a bank.

The title states that the property is owned by a property developer. With equity release your parents would retain ownership. This would imply they’ve taken out a home reversion scheme, selling all or part of their home in return for a cash lump sum or a regular payment. They retain the right to live in the property until they die or move into a care home, when it will be sold with the owner taking whatever percentage of the sale. Home reversion schemes almost always come with a guarantee that they will never have to repay more than the property sells for. Comprehensive info here: https://www.legalandgeneral.com/retirement/equity-release/guides/home-reversion-plans/

Are they very elderly / confused / struggling with their finances? Or do they just not want to give you details of the arrangement?

When did your parents buy and where do they live. That appears it was sold years ago

Think the address is on second photo, maybe ask for it to be removed. Looks like ownership has effectively transferred and there is a lease now.

Hello there, @namechange40582, we've just nipped in as it looks as though there are identifying details within your opening post - let us know if you'd like us to remove the second pic. Thanks.

@ComtesseDeSpair I think you're looking at the freehold title. It appears that the OP's parents hold the property as a 999 year leasehold and have done so since 1969.

The proprietor (i.e. the holder of the lease) is Clydesdale Bank, which suggests the equity release was with them. Maybe this one?

https://www.nationsfinance.co.uk/clydesdale-bank-equity-release

Yes please

Thanks everyone I have realised I download the freehold not the leasehold copy. I now have the correct copy which shows my parents details as owners

Okay and is there anything on the leasehold that shows a charge?

There is one restriction on the deed to a bank. Would you assume that bank is the equity loan company?

It's possible, though that could equally be a standard mortgage. Did they have the mortgage paid off at any time? What is the date of registration of the restriction?

Assuming they had paid off the mortgage in full, then yes.