Release of deeds from Northern Rock

traceya89

I have owned my own home for some time now and have no mortgage on it. However, i have continued to take my home insurance and builidings insurance with Northern Rock because if I wanted my deeds to be released I had to pay a release fee. I am now in dispute with Northern Rock as they told me i had legal expenses cover but now they say I dont have it. I am still waiting clarification of this. However, i have now decided to change my insurance. Can anyone advise me on the rules regarding release of deeds and the fees likely to be incurred. Another alternative i was thinking about was remortgaging my house for £5,000 and then the deeds will be transferred over to my new mortgage lender.

Trying_to_be_good

I remortgaged in July and have been sent my own deeds as they're now held electronically through the Land Registry (or something). As a result, I don't think mortgage companies are holding them any longer, but neither do you need a safety deposit box or similar to store them as the electronic record is sufficient to prove you own the property.

I'm sure someone else will be along who knows much more on this subject!

traceya89

so would i be able to ring and say I want my deeds now. i have looked on land registry but cant find anything

Trying_to_be_good

You may have to pay the 'deeds release fee'/'mortgage release fee' or whatever they call it - best thing is probably to give them a call.

Indispensable_Hobbes

i take it you're in the safe and sure scheme where you leave £1 outstanding and NR keep the deeds?? i rarely deal with this so am not 100% but i think if you stay in this scheme for 6 months then repay the £1 the discharge fee is waived.
if you didnt get one initally call up and get the S&S leaflet, this will tell you all you want to know. i think i might get one and have a read tomorrow