Paying Off Mortgage and Deeds

Party_Animal

If I continue overpaying, whilst the rate is low, my mortgage will be paid up at the end of the year. I heard somewhere that it was a good idea to leave a small amount owing so that they looked after the deeds. I can't see how this would work as I need to make the minimum payments. What's the best thing to do with the deeds?
Thanks

beecher2

Many people keep theirs with a solicitor - I think having the deeds is less of an issue now that they are electronically stored. I have mine at home and keep meaning to buy a fireproof safe for them.

BillTrac

When I remortgaged 8 years ago the Abbey, as it was then, just posted my deeds to me...

I just assumed the BS didn't want to look after the paperwork for me

blueberrypie

The paper copy of the deeds is just a historical document now - it's of no legal importance. Do whatever you want with them - store them, frame them, burn them...it doesn't matter these days.

cm233lh

Deeds are online now, so they should send you all the old paper copies to archive. I don't think you need to take this into account as a reason to keep the mortgage open nowadays, but there may be other reasons to keep it.

g_attrill

I think the deeds are not imprtant only if the property registered with the Land Registry, otherwise they are still very important! They are certainly worth keeping in any case, because the Land Registry might have made mistakes when transferring the details, and the original deeds would be essential if there was a problem in the future.