Who holds the property title deeds with equity release?

Imagine your property title deeds have been passed down through the family for generations, but now you need to find a way to pay off your debts.

What do you do?

You start looking into equity release!

Equity release allows you, if you are over the age of 55, to unlock funds tied up in your home.

These funds can be used for many things, including repaying debts or services like care homes and assisted living facilities.

Therefore...

How to Find Out if My Property is Registered with HM Land Registry?

HM Land Registry¹ is the government department that handles property and land title deeds in England, Wales, and Northern Ireland.

To find out if your property has a registered HM Land Registry, you need to visit the HM Land Registry website.

Enter your property address into this search box and under the "Search Results," click "Find Title".

You will then see a list of all properties in England and Wales with registered ownership, as well as other information about your property.

You will be able to see whether it is mortgaged or if there are any entries against your title for things like bankruptcy² or litigation.³

If you are a homeowner and cannot find your land registration, contact the HM Land Registry for an update.

How Do I Obtain a Copy of My Property's Title Deeds?

To obtain a copy of your property title deeds, you will need to apply for it through the HM Land Registry website.

This will show you who currently holds them and if it would be possible for you to sell your home.

It can also help understand any conditions that may need to be met before selling, such as obtaining permission from family members or selling your car to pay off debts.

The best (and cheapest) way is through solicitors.⁴

You may have additional costs depending on what country you are located in and what office they use, but this should not cost more than £50 to £100.

Once obtained, present the deed during an interview with an equity release specialist at the Equity Release Advice Bureau.⁵

How Do I Find Out Who is on My Land Title with Equity Release?

The best way to find out who is on your land title with equity release is by speaking to an equity release advisor at the Equity Release Advice Bureau.

You need to tell them the address of your property, and they can then look through their records for all properties in that area registered as being owned by someone else.

They can also check HM Land Registry records, which will show all the people who have a share in your home.

This is because, in England and Wales, at least, you cannot release equity on a portion of the house unless there are multiple owners (such as with shared ownership).

It could be possible to do this if you live abroad, though, so speak to an equity release adviser for more information.

My Property Is Not Registered, How Do I Register It?

If your property is not registered, you will need to register it with the HM Land Registry.

They will need to know your property's full address, it's worth, and who it's current owner is.

You may have to pay a fee for registration, too, which varies according to the location of your home.

The original title deeds holder must give permission to have the property registered.

What Happens to My Title Deeds When I Release Equity?

If you take out an equity release plan in the form of a lifetime mortgage, you still retain ownership of your property.

If you are the original title deeds holder, your equity release provider will take possession of them to continue with any necessary action in conjunction with equity release rules.

Title Deeds and Equity Release - Scotland

The Scottish Land Registry⁶ is responsible for the management of land transactions in Scotland.

For those who hold property title deeds with equity release, this means they are also automatically registered.

If your home is not registered, then an application must be made to HM Land Registry's local office to get this process done.

Still, all other people or companies on the land title will also need to be contacted for their agreement.

Title Deeds and Equity Release - Northern Ireland

The Northern Ireland Land Registry⁷ handles land transactions in Northern Ireland.

They are responsible for ensuring the registration of titles, and their records show who holds property title deeds with equity release.

If you have bought a home from someone else, they will also want to be added to your registry.

If not, it could confuse who owns the property and who holds the property title deeds with equity release.

Title Deeds and Equity Release - Wales

The HM Land Registry manages land transactions in Wales, including any records of those who hold property title deeds with equity release.

For this reason, it is essential to ensure registration takes place as soon as possible!

If someone else has a share in your home, they will also need to be on your register too before taking out an equity release plan.

If not, it may be challenging to decide which party should determine what action needs to be taken next!

Common Questions

In Conclusion

If you are considering equity release for your retirement, ensure that the deed holder on your property's title has agreed to it before proceeding with any transactions.

Equity release allows homeowners over the age of 55 to release funds from their homes without incurring capital gains taxes.

This is only possible, though, if the person holding the deeded assets agrees.

So, if you are considering equity release, ensure you know who holds the property title deeds, as it can affect when and how equity can be used.