Nearly there. What do I do about the deeds?

gardenlil

Hi
I have only lurked till now but have been really inspired by all the stories and have been working hard to be mortgage free. I am nearly there and should be without a mortgage by the end of August!!:j

I remember posts about the mortgage deeds and something about whether its better to keep a very mortgage so that the building society holds your deeds securely for you/better to pay it all in total and find somewhere safe for your deeds.

I would really like some advice about this please as I have searched but cant find what I am looking for.
many thanks

Data_Monkey_2

I guess you'll get a definitive answer, but when we paid ours off a few years ago, HSBC said that there weren't actually any physical deeds, but that we could check that we were registered as the owners of the property with Land Registry.

HSBC just sent us a final copy of the zero balance statement to prove that we had paid off the mortgage account.

We were a bit disappointed tbh...

coldcazzie

Deeds are held electronically now, so no need to have a mortgage for years just so the bank can "hold them" for you.

bluebird

Data_Monkey wrote: »

I guess you'll get a definitive answer, but when we paid ours off a few years ago, HSBC said that there weren't actually any physical deeds, but that we could check that we were registered as the owners of the property with Land Registry.

HSBC just sent us a final copy of the zero balance statement to prove that we had paid off the mortgage account.

We were a bit disappointed tbh...

same happened to us, was looking forward to holding the deeds but its all electronic now.Got the letter showing a zero balance and that was it,felt so deflated.

Congratulations for August you'll feel so good:T:T:T

Daisyworld_2

Just be aware of this: news.bbc.co.uk/ 1/ hi/ uk/ 7971995.stm and find out what you can do to protect yourself. (I'm not allowed to post links so have had to put spaces in the URL)