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Hi Newbie, Question About Deeds???

denel1970
denel1970 Posts: 8 Forumite
in Mortgages & endowments
Hi we have a mortgage on our house, but i cannot understand why the bank sent us the deeds to our house before we payed our mortgage off?? is this the norm? have all documents since 1884?? i thought you only got these when you paid your mortgage off?? thanks in advance for any answers..

Comments

  • pokey128
    pokey128 Posts: 482 Forumite
    Hi
    I don't know if you are in Scotland or not but we are and we have all our deeds at home. All recent sales of houses go on whats called the Land Register and everything is kept there -there is now no need for the actual deeds and so they were sent back to us
  • koexelek
    koexelek Posts: 7,847 Forumite
    A lot of lenders just register their charge with the land registry for their own security, then give you the deeds to keep,

    I guess this saves them the cost of storage
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Robert_Sterling_3
    Robert_Sterling_3 Posts: 7,112 Forumite
    Mortgage lenders do not need to keep the deeds now.
    The Land Registry knows who owns what up to a point.
    ...............................I have put my clock back....... Kcolc ym
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