mortgage repayments and title deeds

naav

Hi everyone :cheesy:

I recently bought a house.

1. My solicitor says my title deeds will be deposited with the bank which has lent me the money (the mortgage).

(a) Should I get a copy of this or ask for one?

(b) Should I get something saying I own the property?

2. I bought it in the middle of this month (july). Should I get something from the bank saying when my first repayment is and what date they will be every month thereafter?

Thanks and I hope someone can advise. :cheesy:

RHYSDAD

I think you get the deeds when you finish paying the mortgage off, as until you give the lender their money back, THEY own it!! Of course you'll have some paperwork to say it's your house and don't worry, the bank will let you know when it wants it's money!! Good Luck, RD.

naav

Thank you :cheesy:

facingthefuture

always get a photocopy of your deeds for yourself at home (not solicior) so if you have to check something ever like a boundary you don't have to pay to get them out

happybroker

what often happens is that on receipt of the title documentation the bank will take out what they need (the "Charge Certificate") and send the rest to you as it costs them money to store it all.

As registration of land is compulsary now we don't have "title deeds" as such any more. We have a land certificate when the property is owned with no mortgage on it and charge certificate when there is a mortgage and anybody can get copies of these from the land registry for £3.