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What should I do with my deeds
peterfrompekham
Posts: 17 Forumite
Hi
I should have paid my mortgage up in the next few months after 30 years ! but my question is what should I do with my deeds?
I was thinking about buying a fire proof safe any other ideas? Do banks hold them if so how much do they charge?
I should have paid my mortgage up in the next few months after 30 years ! but my question is what should I do with my deeds?
I was thinking about buying a fire proof safe any other ideas? Do banks hold them if so how much do they charge?
0
Comments
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You should raise this with the bank your mortgage is with. I think what they do is keep the mortgage account open at a balance of £1.00 - this will allow you to keep your deeds with them in their vault.
If you don't want to do that you could enquire at your Credit Union if they have a safe for their customers' use. You would have to have an account with them for this.
I found when I was looking for a place to keep my deeds solicitors and banks didn't generally offer this service. However I don't think deeds have the same importance as in times past as nowadays the Land Registry people have electronic copies of everything. It does feel right not keeping the paper copy in a secure location though.0 -
Thanks for your reply I didn't know the Land Registry have electronic copies. In that case I'll buy a nice fire proof safe and keep them myself0
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The title to your house will be electronically stored with the land registry and you will be provided with a paper copy for your records. The other title deeds and pre-registration documents that accompany your title are still important and will be released to you (usually now when you take out a mortgage you are left with these documents - as banks have cut down on the amount of documents they hold) these include documents that you will need when you come to sell the property like rights that you have, any planning permissions and guarantees it is important to keep them safe as when you do come to sell you will need to have these to hand or sometimes in worse case scenerios you will have to pay to replace them.
If you regularly use a solicitor ask them if they would mind storing them for you.0 -
Wow, mine are in a brown folder in my magazine rack.
if i had a fire i know exactly and how fast i can get them.
if there was a fire i would have to go looking for a safe, probably forget where i put the key.:rotfl:make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Depending on what part of the country you live in your property might not be registered. Compulsory registration had different dates depending on your location and if you have lived there 30 years then best to check.
Call the land Registry on the number they give on their web site
0800 432 0432 and ask them. (ww.landregistry.gov.uk)
If your property is registered then as has been said before the title is held electronically by them so your deeds become 'information' only.0
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