The General Register of Sasines closed to new standard securities
As part of the completion of the land register, the General Register of Sasines closed to new standard securities on 1 April 2016. This change affects people in Scotland with titles held on the sasine register who take out borrowing with a new lender.
Applicants planning to use a new lender to re-mortgage or take out additional lending secured on their existing Scottish property may need to prepare a voluntary registration application to move their title onto the land register.
The change is expected to affect a small percentage of people seeking lending against their property, with historically around four to five thousand applicants who still have property on the sasine register taking out a new security with new lenders each year.
For more information, please contact Lauren Miller.< Back