Last mortgage payment

andrewc_2

The final payment of my Abbey repayment mortgage with Abbey is due mid June.
They have said there is a #100 charge to end the mortgage.

I'm assuming I'll need to pay to have the property deeds stored securely somewhere
(with my bank ?)

Could anybody offer any advice as to whether or not paying of the mortgage is the wisest move and the costs associated with deed storage.

Thanks for any advice.

dimbo61

speak to abbey and your bank and find out the charges !
you may find its cheaper to keep a very small amount owing on the mortgage
say £100 and pay the interest off each month.
some deeds are now stored electronically !
GOOD LUCK

Starz_Ceilings

andrewc wrote: »

The final payment of my Abbey repayment mortgage with Abbey is due mid June.
They have said there is a #100 charge to end the mortgage.

I'm assuming I'll need to pay to have the property deeds stored securely somewhere
(with my bank ?)

Could anybody offer any advice as to whether or not paying of the mortgage is the wisest move and the costs associated with deed storage.

Thanks for any advice.

May I be the first to offer my congratulations to you !!

I can't wait until I can say the same.

Kaz2904

You don't need to have deeds kep safely, they are all stored on the land registry electronic register. If yours aren't yet they will be when you pay your final payment and there is a change to the deeds.

andrewc_2

Thanks for the replies.

minigirl

Kaz2904 is right about the Land Registry but if you want to keep your deeds safe somewhere anyway most Solicitors Firms don't charge for looking after deeds. This is in the hope that when you eventually sell you will use their services but your not obliged too.