Should I leave the original lease etc in Solicitor's storage or keep it with myself ?

user1168934

Hi guys

I need your advice once again. I completed on a leasehold flat a couple of months back and now post completion I have received an email from my solicitor that the registry is done and that he has the following original documents with him

1. Lease and a later revision
2. License of alterations
3. Gas safety record
and a couple more.

He is asking me to tell him whether I want to collect the documents to keep with me or should he transfer it in the storage. He is also saying that (when transferred to storage) in case I need the documents later then I will just have to ask him and that retrieval is free.
He has not asked me for any extra charges for this (I have already paid all the other fees/expenses at the time of completion). It may be included in his fees but I dont know that for sure.

I am a first time buyer I have no idea what people normally do with these. Is there any advantange/disadvantage of leaving these documents with the solicitor? Is it safe to leave it with him?
Is there a reason I should keep these documents with me?

Any help is much appreciated.

Errata

Have you got a fireproof safe?

adhara

I'd like to know the answer too, as I hope to be in a similar situation some day!

On one hand, I would have said to keep the originals, so you can refer to them as needed (like the gas safety record). OTOH, you only need a photocopy as a reference, and if you need the original for whatever purpose, you can just ask the solicitor.

TBagpuss

I'd probably keep the gas safety record myself, as you may want to refer to it, and let the solicitor store the others.

Check what their closing letters say. Most solicitor don't make a specific charge for storing deeds and documents, but may make a charge to retrieve them for you. This will still typically be a lot cheaper than getting a bank to store documents. Mine currently charge £25, I believe.

Many solicitors will then waive the charge if you are then instructing them to deal with something further -so if you wanted the deeds because you were selling the property, and used the same solicitor, you probably would not be charged anything to retrieve the deeds from storage. If you were selling and wanted to instruct a different conveyancer then you might have to pay to retrieve the deeds.

user1168934

Errata wrote: »

Have you got a fireproof safe?

I dont even have a safe, let alone fireproof :-) I have a file cabinet though.

vansboy

user1168934 wrote: »

I dont even have a safe, let alone fireproof :-) I have a file cabinet though.

Then something like THIS from Argos is worth buying, to keep passport and other documents in.

And all the other valuables that we've all not got.

VB

user1168934

The original question is still there, do people normally leave it with the solicitors? Is it safer to leave it with them?

G_M

user1168934 wrote: »

The original question is still there, do people normally leave it with the solicitors? Is it safer to leave it with them?

Some people use the solicitor, some keep at home. Does that answer the Q?

The solicitors may be safer (fire/theft/children at home.. or just lost).
Ties you more to that solicitor ie when you sell, but adds convenience (he already has the docs)
Don't forget which solicitor has it though will you!!

At home you have access/control for your own documents.

I too keep mine in a small fire proof safe (as above) with other important docs (insurance certificate! If there's a fire useful to have it protected!). It's not burglar proof, but then again it's of little value to burgalrs.

davidmcn

user1168934 wrote: »

Is it safer to leave it with them?

Depends how likely you are to lose them if you keep them at home. I wouldn't say they're any less likely to be lost if the solicitor has them (and no, I don't know any who store title deeds in a fireproof safe!), but at least the risk of having to reconstitute them is theirs.