house deeds storage

WaltD · 1 October 2004 at 10:45PM

I have lodged a sealed envelope containing my house deeds, life assurance policies and other legal documents at the local branch of my bank (HSBC Bank). They charge me £13 a year for keeping it in their safe and have advised me that there will be no charge for getting occasional access to it ... within reason!

Robert_Sterling_3 · 16 October 2004 at 2:08AM

I have left £1 owing on my Halifax mortgage.
They make no charge as long as I insure the house with them. I expect that make plenty of profit on the insurance.

Some you win some you lose.

rafi_2 · 16 November 2004 at 8:42PM

We paid off the mortgage completely not holding a small sum back and our building society charges us £25 a year to keep the deeds.

Robert_Sterling_3 · 16 November 2004 at 9:24PM

I think it is only the title that is held electronically.
The deeds contain important information about covenants etc. so I guess you don't want to lose it!

I think that you are right.

Robert_Sterling_3 · 16 November 2004 at 9:26PM

Sorry I don't know the answer to your question . but Halifax charges unless you keep £125 back from paying off the mortgage. Maybe this should go on the mortgage board you may get someone who knows more about it. :-/

I had to leave one pound owing so that my account was not closed and in addition I have to have their Building Insurance which might not be the optimum insurance to have.

nqsenile · 14 February 2005 at 9:22PM

I had a mortgage with the Halifax Building Society. When I "paid it off" a few years ago I left £125 "outstanding". The deeds are still kept by the Halifax. I receive each year an "Annual Mortgage Statement" showing a Year End Balance of £125. "We will not charge you interest if the balance stays at or below £125". There was/ is no requirement to insure my house through / with the Halifax.

brm_2 · 18 February 2005 at 12:47AM

Robert_Sterling wrote:

If this is not libel it comes close to it.
You will have signed up to the terms and conditions of the mortgage and I think that you will find the redemption charge was taken into account when the APR for your mortgage was calculated on day one.

My view is to take your deeds, paying your charges to your mortgage companies.
Possession of the most important document you will ever have in your life, means YOU are in control. (Marriage and birth certificates excepted)

Take them to your own solicitor and have them photo-copied, and have the originals oversigned by letter as the originals and stored with your will. Normally no charge for this service.
Keep the photo-copies at home safely for reference. Or give them to the family in a sealed envelope.
Again, NORMALLY, no charge.

economiser · 20 February 2005 at 7:44PM

Are your documents any safer with a third party than kept in a fireproof safe at home? Barclays Bank managed to lose my father's will.

SnowyOwl_2 · 20 February 2005 at 9:34PM

I managed to pay my mortgage off over a year ago, then purchased a new house in cash some months later. The solictor dealing with the purchase hasn't finished sorting out land registry etc etc (it's a brand new house) but he has stated that he has no facility for storage of the deeds. As there is no mortgage provider involved what are my options?

Thanks!

mightymo_2 · 21 February 2005 at 8:12PM

Snowyowl,
I used to work in a solicitors, and we were quite happy to store title deeds in the strong room for free (even if we hadn't undertaken the conveyancing). The reason for this is that you are more likely to then use the solicitors holding your deeds in the future to write your will, sell your house, deal with probate etc.

Ring a couple of solicitors in your area to see if they are willing to store the deeds for free.

house deeds storage

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