Deeds in our possession - Is this normal?

karom

Hi

On our quest to reduce our mortgage, last April we moved from Woolwhich to C&G.

We actually received the original copies of our deeds with no explanation.

Is this correct? Why would then C&G charge us £225 at the end of our mortgage for? I have not as yet talked to C&G for clarification and be interested to hear if this is common practice

Thank you

gentlepurr

hi, we remotgaged to hsbc 2/3 yrs ago, and they sent us the deeds. as the mortgage was only for about 20% of the property value, we thought this may have been why.

whatever the reason, it would seem that its common practice.

xx

TriggerX

Hi there. I don't know if this is of any help.

I too have a mortgage with C & G and I had my deeds sent to me with a letter of explanation.

Apparently, all their deed information is now held on a central computer server and they no longer need a solicitor to "hold" your deeds to your home. The proof of ownership is on a nice little hard disc somewhere. I suppose it's probably another cost-cutting move that doesn't benefit us (but of course benefits them!)

Be a shame if the hard disc crashed and their backups were duff eh? LOL!

Best regards.

carol_a_3

I got our deeds from the C&G too around Christmas time, just in a plastic envelope sent normal post...they are obviously not worth much then!!

karom

Thank you for your feedback.

Maybe it is a general C&G move... I dread to think of the % of loss item from Royal Mail

david78

Its a general move by the whole mortgage industry. The deeds are not really valuable anymore as they are held electronically at the Land Registry (either the main registry, or one of several local ones.)

You can get more info from the website (you can view your deeds online and get a list of local offices).

www.landreg.gov.uk

https://www.landreg.gov.uk/direct

This doesn't mean you should throw the paper deeds away, however. There is sometimes extra "historical" information with the deeds that might be of interest.

Finally, for anyone who is redeeming their mortgage, when they get the deeds though they have to apply to the registry to get the legal charge removed. Your lender should send you a couple of forms to do this -- you just check and sign them and send them to the appropriate local Land Regsitry office (this is shown on the form).

Johnhowell

Land Registry Act 2002 - Deeds are no longer needed by the mortgage company as it is centrally recorded by Land Registry - Peterborough.

John

Girl_least_likely_to

We had ours sent to us when we remortgaged to nationwide.