If you’re considering moving house, unusually long processing times at the Land Registry could make the process more complicated, particularly if you are selling a property which you purchased in the last 3-4 years..
The most affected applications are those looking to divide existing titles or register a new lease. Recent figures from Land Registry show ‘almost all’ of these are completed within 20 months. Applications to divide existing titles includes plots which are being split up by developers, so some individuals who have bought a new build property may still not have the title in their name two years after the property was purchased.
As families look to move up the ladder or relocate for work or school, delays in registering these titles will have a knock-on effect for individuals looking to sell their property.
Comparison of sales volume of new build for two locations
There is good news on the horizon though for anyone affected by this issue. With interest rates at a fifteen year high, the number of developments completing is slowing down. New build sales peaked in June 2022, both in the UK and Thames Valley and have now dropped to much lower levels.
The corresponding drop in Land Registry applications should allow the agency some catch up time to process the backlog.
If you bought a new build property in recent years and are now looking to move on, you may be concerned about an issue with the title to your property. I have over twenty years of experience in property law, advising a range of clients including developers and individual property owners.
How can I help your situation?
Get to the root of the issue, quickly…
Contact me so that we can find out your precise situation – we all appreciate the benefits of a smooth transaction so the more information we know upfront the better. Forewarned is forearmed!
I’m a problem solver and, even if your title is outstanding, there are ways I can help. I’ll discuss all the implications with you, so you go to market fully informed. If a sale is imminent or urgent, I can support with the process of expediting the application with the Land Registry so that any delay is minimised.
I understand how stressful a house move can be and I’m here to inject some fun back into the process! Treating each transaction as if it were my own, I take on the legwork and leave you to focus on the future.
So, if you’re looking to move, you’ll want us on your side…