Mortgage discharge Scotland

ptkloon

Hi, Can anyone help with my query, I have recently paid off my mortgage :j and received my title deeds by post along with a letter stating that I had to discharge my mortgage.
I contacted a solicitor as suggested on the letter from my lender and have been quoted £195+VAT and an additional £60 fee for registration.
Does this seem reasonable? Also 0 where am I supposed to keep the deeds now that I have them? Should I put them in a fire proof safe, or have a solicitor look after them?

davidmcn

You can probably find someone who will do the Discharge for a bit less, but you don't really need to get it done straight away, it can be left to be done as part of a sale. Also, there's an electronic discharge process coming into force, which ought to make it simpler/cheaper if you leave it until that's up and running (provided your property is registered in the Land Register - is it?).

The deeds aren't all that valuable, copies can be easily obtained from the registers.

ptkloon

Thanks for the reply, the property would have been registered with the land register when the mortgage was taken out originally I think?!
Do you know when the new process comes into force? We have quite a lot going on at the moment, my wife just gave birth to baby number three so anything that simplifies the process is a bonus!!