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House deed

loulou41
loulou41 Posts: 2,871 Forumite
in House buying, renting & selling
Bought my house in 1976 and Halifax told me to leave £1 and they will store the deed for me. Now that the title deed is stored electronically I wonder whether I should pay the £1 and ask for the house deed. I have never seen it. Anybody in the same situation like me. My daughter bought her house 7 yrs ago and she did not get the house deed. Thanks

Comments

  • Car1980
    Car1980 Posts: 301 Forumite
    First Anniversary First Post Combo Breaker
    You can ask for a paper copy but the mortgage company keeps the original until you've paid off your mortgage.
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Car1980 wrote: »
    You can ask for a paper copy but the mortgage company keeps the original until you've paid off your mortgage.
    I think that's the point.

    OP has paid off the mortgage (all but £1.00) and is asking whether it's worth letting the lender store the Deeds (if indeed there are any paper deeds) or whether to pay off the £1 and get back whatever paperwork they have.

    Personally I'd pay off the £1.00. Now that it's all electronic I can't see the advantage of maintaining a nominal mortgage, but others may think of a reason.

    Impact (one way or another) on credit record?
  • TBagpuss
    TBagpuss Posts: 11,203 Forumite
    First Post First Anniversary Name Dropper
    Assuming that you're sure that the the house is registered and therefore the title is recorded at the Land Registry, then yes, pay off the £1, have a look, and then either keep it or not as you like.

    There's no reason to keep the mortgage open and if you get it back you can also check whether there is anything of historic interest .
    All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)
  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
    First Anniversary First Post
    If you do get them back then you might want to get the property registered at the Land Registry just in case the paper deeds get lost / destroyed. Once your house is registered at the LR the paper deeds are no longer of importance (other than interest / curiosity value).


    Registering it will probably cost you a few hundred pounds.
  • loulou41
    loulou41 Posts: 2,871 Forumite
    Thanks the house is registered as have checked and could get a copy of the title for £3.
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