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Originally Posted by dinahsmum
Here's a pretty good link on this subject http://www.moneysavingexpert.com/mor...ges-vs-savings
The only possible advantage I can see in keeping a (very small) mortgage debt, is that the mortgage co/bank will take care of your house deeds. However, your solicitor will probably not charge/charge very little for keeping them in his safe. |
Title deeds are all electronic now anyway and stored at the Land Registry electronically - so the paper copies are pretty much null and void.
About 99% of all mortgage lenders are no longer retaining title deeds, as the paper copies have no value. It's becoming commonplace for us, as the borrowers, to retain the paper copies.
You will probably find that if you remortgage your new lender won't keep the title deeds, Kazz.
