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House Deeds. Where do you keep them and how much does this cost?

Hi,

Recently bought first house and at completion, solicitor requested we pick up the deeds from them. After doing this realised that we shouldn't keep them in the house but now not sure where to keep them. Mortgage lender is looking to charge a flat charge per year to hold them, but wondered where else I could enquire to as to where to keep them.

Any advice appreciated.
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Comments

  • Madmel
    Madmel Posts: 798
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    I'm surprised your mortgage lender hasn't demanded them! Whenever I've had a mortgage, the lender has always kept the deeds, and as far as I know, has never charged any extra for them.

    When we bought this place, we didn't need a mortgage and enquired about retention of the deeds with our solicitor. This firm offers free storage of house deeds providing you have used them for conveyancing, which of course we had.
  • runmartin
    runmartin Posts: 32
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    If you bought the house recently then the Land Registry has all the details (scanned deeds) and you will be the registered owner, therefore the deeds your solicitor has are not required anymore.
  • Aliss
    Aliss Posts: 141 Forumite
    I have mine in a locked fireproof filing cabinet in the house. I didn't think there was a reason for not keeping them in the house... why shouldn't you?

    I can think of fire and theft but is there another reason?
    Aiming to pay off mortgage by my 30th birthday... £39438 to go!

    "Had a documentary made about me" non-clique No.1, PM me to be added!
  • Essenchill
    Essenchill Posts: 1,032
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    Yes, was thinking of fire/theft, and haven't got a fire proof safe - as yet - confused as to what to do with them... I have a copy of the Land Registry within the deeds (current copy) and all the previous versions, but would need to pay for a new copy if I 'lost' this copy.

    Wouldn't a sale of the house generate a need for all the deeds associated?
  • runmartin
    runmartin Posts: 32
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    Essenchill wrote: »
    Wouldn't a sale of the house generate a need for all the deeds associated?

    No, as you have just completed recently then the deeds have been electronically copied by the Land Registry therfore making them useless.

    see post 5 of
    http://forums.moneysavingexpert.com/showthread.html?t=449325&highlight=deeds
  • seven-day-weekend
    seven-day-weekend Posts: 36,755
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    You don't need historic deeds any more if your house is registered at the land registry, so it doesn't matter where you keep them, including in the bin.
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • Bogof_Babe
    Bogof_Babe Posts: 10,803 Forumite
    You don't need historic deeds any more if your house is registered at the land registry, so it doesn't matter where you keep them, including in the bin.

    Does that include houses bought some time ago? We paid our Birmingham & Midshires mortgage off about 12 years ago, and left our deeds with them. They don't charge us for storage, as on their advice we left a balance on the mortgage account of £1 (interest free).

    However they have since closed their local branch, and I'm not even sure they still exist as an entity in their own right, so goodness knows where our deeds are now.

    It would be reassuring to know that the Land Registry have all the necessary documents, should we wish to sell and be unable to track down our deeds.
    :D I haven't bogged off yet, and I ain't no babe :D

  • runmartin
    runmartin Posts: 32
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    Go on the land registry website and put your house number and postcode and it should tell you if it is registered.
  • Alfie_E
    Alfie_E Posts: 1,293 Forumite
    Bogof_Babe wrote: »
    However they have since closed their local branch, and I'm not even sure they still exist as an entity in their own right, so goodness knows where our deeds are now.
    Birmingham & Midshires still exist. See the Birmingham Midshires website. They’re part of Halifax plc, but they still have their old Wolverhampton HQ. I wouldn’t be surprised if that’s where your deeds are.

    Given the age of the mortgage, I wouldn’t expect the property to be registered with the Land Registry. The first registration costs money, so it’s usually only done if it has to be. If your property’s not registered and you feel like writing to them, their freepost address is near the top of their Data Protection Act page.
    古池や蛙飛込む水の音
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