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Deeds storage
Philippa769
Posts: 2 Newbie
I was lucky enough to have enough equity from selling my house last year in the London area, to be able to afford to buy a small flat in Devon without needing a mortage. However, what do I do with the deeds once I receive them? I know that if you have a mortgage and pay it off in full, you can leave them with the mortgage company for a nominal fee, but what can I do with mine once I received them. Am I able to pay to store them somewhere? A bank/building society or with a solicitor? Or do I have to keep them in the house and hope I don't get burgled?
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Comments
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Philippa769 wrote:I was lucky enough to have enough equity from selling my house last year in the London area, to be able to afford to buy a small flat in Devon without needing a mortage. However, what do I do with the deeds once I receive them? I know that if you have a mortgage and pay it off in full, you can leave them with the mortgage company for a nominal fee, but what can I do with mine once I received them. Am I able to pay to store them somewhere? A bank/building society or with a solicitor? Or do I have to keep them in the house and hope I don't get burgled?
I guess there's a risk wherever they are kept, however if it were me, I'd probably pay storage fees to a solicitor. I'm sure they'd be stored in a fire proof cabinet.0 -
If the property is registered with the Land Registry then the deeds have only historical interest. I would put a copy in a friends house and keep them somewhere safe, but do check the property is registered first.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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