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Thread: Can I go on the deeds but not on the mortgage?

  1. #1

    Can I go on the deeds but not on the mortgage?

    My partner and myself are trying to get a mortgage to help a relative buy a house. HSBC have confirmed the mortgage as indirect security on the house so that we dont have to pay 2nd home stamp duty, and dont have to go down the joint mortgage, sole proprietor route. This is due to us having a house mortgaged already that is too high to allow this joint/sole type of mortgage to be accepted.

    HSBC absolutely swear it is possible for us to go on the mortgage and not on the deeds. So obviously we went ahead with it. At the point this week our solicitor has gone to register the deeds with Land Registry, they say that everyone on the deeds has to go on the mortgage, so our relative has to go on the mortgage. This is not possible due to her age, and us being able to get the mortgage with her on it. So we are at a stalemate between HSBC saying it is acceptable, and Land Registry saying its not.

    Can anyone shed some light on whether all parties on the deeds have to go on the mortgage?

    "everyone who is a legal owner has to feature on the charge (mortgage)" wording from land registry. So how can a huge bank be wrong?

  2. #2
    I think we can safely assume HSBC knows how its own legal charge operates and it is indeed, the only UK lender which offers a 'sole borrower, joint proprietor,' or more owners than borrowers legal charge.

  3. #3
    Thanks, thats what I think too. However direct wording from a Land registry letter in response to the solicitor stating:
    The charge can not be registered on the title as a legal charge. The name of the borrower(s) must agree with that of all of the registered proprioter(s)

    We want to register the relative as a sole proprioter and not us on the deeds, so we are just an indirect charge through HSBC. But they wont have it.

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