Banks not storing deeds, wills, etc

savetilibleed

I had to remove my Mum's deeds from her bank this week as we are selling her house so she can continue to pay for her care. The manager happened to say I would not be able to bring them back. No problem as they have gone to the solicitor to transfer to new owners on completion.
By coincidence, when we got home, my wife had a letter waiting from her bank (different one) to say they are not storing deeds etc any longer and to come and collect in 30 days.

I don't know if these branches are closing and that's the reason.

So the question is, what/where do we safekeep our deeds? A solicitor who did our wills years ago said they don't hace space to store documents.

lisa110rry

Very odd, our deeds are stored with our wills, with the solicitor.

B_G_B

My limited understanding is that the important bits are held electronically on the land registry website.

Old paper deeds only have historical / sentimental value.

https://www.gov.uk/government/organisations/land-registry
Please note that land registry site is down for maintenance until Monday 7th.

I recently paid off my mortgage and received all the old paper copies etc back from the bank. Although my Den is only ~50 years old they were quite interesting to see, although they have no legal / monetary value now.

I’m sure that someone will be along to either confirm or correct my understanding.

patientperson

savetilibleed wrote: »

I don't know if these branches are closing and that's the reason./QUOTE]

Can you say which are the Banks concerned?

RichyRich

You can deposit your will at the High Court for a fee of £20 which must be cheaper than paying ongoing fees for a safe deposit box at the bank year after year if your solicitor won't keep it free

http://hmctsformfinder.justice.gov.uk/courtfinder/forms/pa007-eng.pdf

RichyRich

B_G_B wrote: »

My limited understanding is that the important bits are held electronically on the land registry website.

Old paper deeds only have historical / sentimental value.

https://www.gov.uk/government/organisations/land-registry
Please note that land registry site is down for maintenance until Monday 7th.

Assuming that the land is registered, that's correct. Land is compulsorily registered on sale or upon another qualifying transaction occurring, such as a mortgage.

Ten years ago I would have been able to tell you the effective date for compulsory land registration off the top of my head, but unfortunately I have killed too many brain cells since graduation that my recall is not what it was. There has been optional land registration since 1925.

Biggles

RichyRich wrote: »

You can deposit your will at the High Court for a fee of £20 which must be cheaper than paying ongoing fees for a safe deposit box at the bank year after year if your solicitor won't keep it free

http://hmctsformfinder.justice.gov.uk/courtfinder/forms/pa007-eng.pdf

Yes, this option (actually the Probate Service) is not only the cheapest (the one-off fee of £20 is for life - literally) but the best option. I have told my offspring where it is and, when I snuff it, my they will be able to recover it, wherever in the country they are, they won't have to find a local bank or solicitor somewhere.

caveman38

I have had a recently obtained my deeds from Santander and found out what may have been useful information.
I married in the 70's and bought my house with my wife when we were then still single.
We had our mortgage with the former Abbey National. When we paid off the mortgage in the 80's we were offered to keep our deeds in a deedsafe scheme if we left 50p on our mortgage.
I don't know why, but it occurred to me 4 months ago that my wifes single name may have never been changed on the deeds. I was advised to contact the Land Registry and they confirmed that her name was in fact still as her maiden name.
I went through the process of registering her married name and at the same time contacted Santander for them to release from deedsafe my deeds and send them to me.
Both processes were very easy and now have my deeds and a copy of house registration with the Land Registry.
It may be of some benefit to anybody still with their deeds held in a deedsafe information that I recently read.
It related to a house purchase completion day that had to be changed on the very morning of moving as one of the solicitors had found that the mortgage was still outstanding albeit for 50p. But nonetheless it had to be sorted to keep everything legal. Although it only took a simple phone call to resolve, the completion date was delayed by another couple of days.
It was because of reading that, that prompted me into having my deeds released although when I spoke to the Land Registry re. my wifes single name on their register, they said not to be surprised if the Abbey / Santander had not burnt my deeds as they were now unnecessary and are not always kept by the BS's after 20 years. Mine I have to say were in tact and although not required anymore made interesting reading.