Leasehold with previous buyer's name - is this normal?

[MayGogh]

Hi hope someone will be able to help or point me in teh right direction. i suspect im worry over nothing but just would like to know the following:

I own a leasehold flat and have lived here for 17 years (East London). i have the original lease and papers which were sent to me about 4 years ago when i remortgaged my flat - on the lease it has the landlord's name (freeholder) and the person i bought the flat off. Is this normal practice - as i would have thought i would have a lease with teh landlord and my name on it. i havent had a problem with remortgaging etc so i assume that there must be something with my name on it saying i own the property.

and a second query - where should my mortgage really be kept - as before i had the remortgage this was kept with teh building society who had it for about 13 years but now i have it and i would rather have this stored for safekeeping.

many thanks in advance.

[Richard Webster]

I own a leasehold flat and have lived here for 17 years (East London). i have the original lease and papers which were sent to me about 4 years ago when i remortgaged my flat - on the lease it has the landlord's name (freeholder) and the person i bought the flat off. Is this normal practice - as i would have thought i would have a lease with teh landlord and my name on it. i havent had a problem with remortgaging etc so i assume that there must be something with my name on it saying i own the property.

The Lease is a one-off legal document that creates a leasehold estate in land, typically with a flat for 99, 125 or 999 years. If you are not the first purchaser of the flat you inherit the leasehold title from your seller. The lease itself stays the same - that legal document signed by particular people on a particular date. The Land Registry details for the property - obtainable from Land Registry - Land Registry should show you as registered proprietor of the flat.

and a second query - where should my mortgage really be kept - as before i had the remortgage this was kept with teh building society who had it for about 13 years but now i have it and i would rather have this stored for safekeeping.

If the mortgage lender doesn't want to keep the mortgage deed then you can keep it. The lender will rely on the Land Registry records if it needs to enforce its security if you get into arrears.

[New Homes Expert]

The Property Title Deeds are of less significance these days as the Land Registry has any transaction in the last 20 years on comptuer records.
If your home is not on the Land Registry you should register it as soon as possible. www.landregistery.gov

There is no need to pay someone to "keep them safe" for you.

Regarding your main question I would advise you have a hour with a solicitor and get their advice on this. If there is a problem you may be able to sue your conveyancing solicitor for negligence.

Without seeing the actual deeds it will be difficult for anyone here to be definitive.

[Richard Webster]

Regarding your main question I would advise you have a hour with a solicitor and get their advice on this. If there is a problem you may be able to sue your conveyancing solicitor for negligence.

I have already given OP the explanation. People keep asking this same question.

[New Homes Expert]

Perhaps this should be a sticky on the board then?

[Richard Webster]

Perhaps this should be a sticky on the board then?

Could be a good idea! Do they do stickies?

[MayGogh]

MAny thanks Richard for replying to my query - its put my mind at rest - i just thought there must be a reason but of course i didnt know what the reason was! so im glad its all correct and above board.

Thanks also to New Homes Expert - i just assumed that most people had their deeds held somewhere else as i had various discussions with friends and it seems no one has theirs at home! I almost threw mind out as forgot i actually had them ;-)

[New Homes Expert]

Glad to be of help May