Title Deeds-a few questions

fanta_2

I have paid off my mortgage and am considering taking the deeds into my possession but am worried about what happens if i lose them. the mortgage company wants over 300 pounds to give me my deeds so its a big decision for me.
Ive read related posts on here and believe the real deeds are stored at land registry in paper and electronically. my first question, is this the case with all deeds?- my house was built in the 1920s and i bought my house in 1996. this web site gives the impression its all deeds http://www.wilsonsolicitors.demon.co.uk/e&wales/TitleDeeds.htm .

my 2nd question if deeds are stored electronically and in paper at the land registry, does it matter if you lose the deeds(really land certificate if actual deeds are held by land registry)? (i believe copies can be viewed for 5 pounds from the land registry incase you are selling the house)

my 3rd question, if it doesnt matter, do all i or a solicitor need to do is inform the land registry if the deeds need to be updated?

the following website gives the impression it costs 55 pounds for new 'deeds'(really land certificate) if 'deeds' are lost. however the website seems to be a corporate not government website (timewell plc it says at bottom of website) so im wondering as my final question is if the 55 pounds figure is correct or are they taking a fee ontop of the land registry cost??. http://www.landsearch.net/lost_deeds.asp?gclid=CMuQ0-GM0IwCFQ3alAodoXsKrg

look forward to hearing from you guys if you are in the know. many thanks.

Kaz2904

Unfortunately your mortgage provider has to fill in a form for you to get the deeds. It isn't as simple as just getting the deeds, they have to agree that they no longer own any part of your house and sign it over to you. They do charge for this (ratbags!).
In relation to actually keeping your deeds: you don't need to have your paper deeds to sell your house but it would be a shame to lose a historic document. It is interesting to have a look at your deeds when you get them.
Anyone who buys a house now will be given their deeds anyway by the solicitor after exchange.
The £55 is probably the cost for a search to check that noone else has a charge against the property and that it is yours to sell so would be paid by your buyers.
Hope this helps!

fanta_2

yes it helps, thanks for the speedy answer. just one thing you say you dont need to have your deeds when selling your house but then say anyone who buys a house is given deeds by the solicitor-err im wondering where he got the deeds from. you see im interested to know if it matters if i lose the 'deeds' (land certificate)

Kaz2904

You can (obviously) only be given paper copies of the deeds if they have not been lost. What I meant is that when we remortgaged our flat in 2003 we were given the deeds. When we sold the flat we dug them out and sent them to the solicitor. When we bought our house we were sent the deeds and when we sell it we will pass them on (if we can find them!).

runmartin

I have just paid off my mortgage recently and received the deeds through the post a week ago (without extra charges). I have never seen the deeds before and was surprised that it was only a sheet of paper which I signed when I bought the house two years ago and witnessed by the solicitor (it has deeds written at the top). There were also some papers which were dated around the time we bought the house which said the house was registered in my name at the land registry.

My mortgage was with the Woolwich and there was nothing to say the Woolwich have no longer a charge over the property. I do not seem to have any paperwork to say the house is now mine, i.e. the Woolwich has not confirmed that I do not owe them any money even though they have sent me some papers from 1995 when I bought the house and have put £28 back into my account which I had overpaid (that was over a week ago).

Does anyone know whether this seems right.

Also I was charged an exit fee of £270 when my contract says £195. I have spoken to the Woolwich and they said it would be refunded in a few days (that was weeks ago).

Thanks
Martin

runmartin

I have just downloaded the Title Register and Plan Register from the land registry website. It still shows Barclays (Woolwich) has a charge over the property eventhough the mortgage was paid off a month ago. Will I be informed when everything is sorted out?

Kaz2904

Yes but I think it can take a little while to get sorted out.

owner

runmartin wrote: »

I have just downloaded the Title Register and Plan Register from the land registry website. It still shows Barclays (Woolwich) has a charge over the property eventhough the mortgage was paid off a month ago. Will I be informed when everything is sorted out?

Don't forget the Land Registry is staffed by Civil Servants, it may take a while to come through ! :rolleyes:

Mary_Hartnell

I am willing to bet it is the mortgage company that is holding things up (don't know how to use the new on-line system or have sent the wrong forms ?)

Perhaps someone at the Land Registry can tell us how fast their service is ?

runmartin

I got some information by post from the Land Registry. It contained the new property register, proprietorship register and charges register. There are now no charges against the property now. It now feels like I own the house:j

I still have not received anything from the Woolwich regarding the final payment etc. I have phoned them again and also wrote a letter to request this and to ask for money back from the mortgage exit fee. They took the full exit fee knowing full well that my contract stated an exit fee of £195 (and not £275).

Bev+4

Hi, I wonder if anyone could help answer this for me. We are moving our mortgage from the halifax to Northern rock.. We have spoken to the Halifax and they say if we want our deeds we will have to pay £50 which I expected or if we don't they will be destroyed. We still have 18 years to pay. I asked if we will be able to get them at a later time and were told no this is a one only offer and they will be destroyed if we don't take them up on it now. They also said they will be electronically stored but when we asked about getting them at a later date we were told we would not be able to this is the last chance!! So we don't know what to do .We don't ever intend to move again. So do we pay £50 and have them (money is very tight) or do we not have them. My mother is saying we definitely need them it is very important but we are thinking £50 is a lot to us. I would appreciate any advise. Many thanks