Custody - Title Deeds - RBS

kutuboy

Hello, I received a letter from my solicitor stating that my mortgage lender, RBS have returned the title deeds and he is proposing to have the title deeds under his custody unless i say other wise.

1. Is this normal? Why is RBS returning the title deeds before i have paid the mortgage?
2. Is it a normal practise for the solicitors to take custody of the title deeds, till the mortgage is paid off?
3. What other options are available for me to keep the title deeds safely?

Thanks

StuC75

1 - Land Registry hold information online - which confirms the ownership & RBS interest.

2 - My solicitors sent ours to us following a recent purchase.. As only relevance now is regarding covenants (were we to resell).. Afterall if the solicitors practice were to close youd have to chase this up..

3 - Still weighing this up myself!... As believe legal value is diminished by Land Registry confirms the legal title. so whether to store in a fireproof safe - along with other important documents; or check if local bank offer such a facility for storage?

kutuboy

If i were to request my solicitor to return the title deeds to me, Will i be needing his services related to my mortgage in the future? Any circumstances where i need to go back to them asking them to provide some reference etc? Will i be able to request if any services, in the future, if the title deeds have been returned to me.??
Thanks

harvey115

From my understanding the title deeds should be returned to you, unless the lender has put down a condition for the deeds to be left with the solicitors until the mortgage is not cleared.

If there is no condition from the lender, I believe the solicitor is just keeping the deeds, so that you return to them for future work and they can charge you for their services. They might even charge you something for keeping the deeds safe!

Not sure if this is how it should work, please correct me if I am wrong.

kutuboy

I agree with harvey115. Its a way how the solicitor's firm wants to generate future business. Can someone clarify my rights of requesting the solicitors to return the title deeds to me?