hello,

please i work with a bank and one of my customers needs a loan, he is puting his property up as a security, but my bank goes the extra mile of perfecting the mortgage though its an equity release, i was discussing with my customers lawyer and he said if my bank does the legal mortgage that his client(my customer) would almost be starting afresh trying to get the documents back in his name when he liquidates or pays fully the loan amount and said its almost like he is applying for a fresh C of O(CERTIFICATE OF OCCUPANCY).

please what are the likely costs he will incure to get full title back after paying down?

thanks and i do hope i was clear enough, english is my second language.

still waiting!!!!!!!!!!!!!!!!!!tganks

@henchmark

I must say this is very strange. The ideal thing would be for the Bank/Lender to put a charge on the property used as a collateral so that this can be easily discharged once the loan is redeemed. I would advise the guy involved to look for another lender. Apart from the risk involved in this transfer of ownership; it will cost you so much to re-instate the title back to your own name. Personaly, I don't think it's worth the hassles