Title deeds

Worried_of_wakefield

Morning everyone, having recently paid off our mortgage, we then started looking for the title deeds. Having found them at the bottom of the safe we are now left confused in that the deeds are in the name of the original vendors we purchased from.

Having just recieved an e mail 'bounce back' from the solicitor we used ( gone into receivership following a boiler room scam!) we are now unsure if we have a problem.

Anyone have the expertise to point us in the right direction?

Southend1

You don't need the deeds any more. Registration is electronic. Check the land registry record is correct via their website to put your mind at rest that the house is correctly registered to you.

Jonbvn

Check with the land registry. What they hold electronically is the key, not what you found in the safe (assuming your property is registered with LR).

You can d/l a copy of your deeds for £3 from the LR website.

Goldiegirl

Historically, the lender held the title deeds as security for the mortgage.

When the mortgage was repaid, the title deeds were returned to the ex-mortgage holder, after all the discharge formalities were dealt with, usually after about for to six weeks.

Nowdays, the title deeds are just historical documents. All Title information is held electronically. If you wanted to check the names the property is held in and the names of any lender who has a charge on the property, you could approach the Land Registry to ask them.

Are you SURE you have cleared your mortgage in full? I ask this, because only last week you were saying that you wanted to keep a pound outstanding on the mortgage for the next 10 years, to score some sort of point about not paying an exit fee?

If you are intending to do this, the lender will not remove their charge until all monies owed are paid to them. So you will not be mortgage free until their charge on the property is removed.

Worried_of_wakefield

Ah! Goldiegirl you are correct, however latest update is....they amended my next DD payment threatening to take the 'whole £1!!. Long story short they have accepted that I can in fact do as I wished and paid £10 into my current account as an apology for the incorrect advice given.

I felt I had won a small victory so have decided to pay the dam admin fee and then I can crow about being 'mortgage free' like many other lucky contributors to this section of the forum.