House title deeds and land registrations

KeyserSoze

The bank have sent me the title deeds to my house and the land registration. I have not finished paying my mortgage nor is it due to be completed anytime soon.... What does this mean?? Have the bank made a mistake??

whizzbang

sounds like! Isn't there something about they can't ask you to pay your mortgage if they can't produce your deeds?

Victor

Is there a possibility that you have been over-paying your mortgage?

Sometimes they do waive the last bit of a mortgage (within reason).

Put the deeds in a safe (especially fire-proof) place. your bank or solicitor should be able to recommend somewhere for a modest fee.

KeyserSoze

No, I definately have not been over paying on the mortgage. I briefly spoke to a solicitor and he said that i should NOT have these documents. My understanding is that the bank will hold onto these documents until the mortgage is completely paid.

John Mason

this a really serious problem with your bank. they should not under any circumstances issued you with these documents. if these get lost it is expensive and a long draw out procedure to reconstruct title.

give the deeds to solicitor for safe keeping and either get you solicitor to contact your bank or contact them yourself

i am horrified at this. i have had to reconstruct many a title deed in my time - it is not an easy thing to do

antoinolachtnai

but they don't really need to hold the actual deeds if it's registered land, do they?

MysticalSoul

antoinolachtnai wrote: »

but they don't really need to hold the actual deeds if it's registered land, do they?

Yes they do. In essence, the property is the banks till the mortgage is paid off, even if in your name.

antoinolachtnai

well, not exactly, they have an interest in it. If you make the payments on it, they can't sell it or evict you.

But that's not the issue. If the land is registered and they have registered their interest, then it won't really matter what documentation you have, will it?

Of course, the bank shouldn't have sent that stuff in any case.

KeyserSoze

I think I will just go to my solicitor about this to get some firsthand advice. I’m a bit reluctant to hand the documentation straight bank to my bank after them making an "error" like this, who knows what they are capable of or more importantly, what they are NOT capable of!!!

Hypothetically:
Would I be right in saying that the bank wouldn’t have a leg to stand on if I decided to stop the mortgage repayments?? I have all the legal paperwork, everything is in my name. What's stopping me selling the house and keeping everything?

Victor

KeyserSoze wrote: »

Would I be right in saying that the bank wouldn’t have a leg to stand on if I decided to stop the mortgage repayments?? I have all the legal paperwork, everything is in my name. What's stopping me selling the house and keeping everything?

Copies and the threat of / an injunction / conviction for fraud.

KeyserSoze

Ah right.... Maybe not such a good idea so It was just a hypothetical query anyway. Cheers for that. I have scheduled a meeting with my solicitor for later this week.... Everything should be a bit clearer after meeting with him.

jayrain

The Same thing has just happened to my brother! A few days ago he recieved a "thank you, for doing businees" letter from his bank, and the deed. I know he is not close to paying off his mortgage, and jokingly told him Obama's houseing plan seems to be working.

I am courious, as he owns tha land outright, and the loan was just for his house. If he has the Deed, with no Liens does he have to keep paying his mortgage. (After a different problem with another home he had purchased a few years(Title issues), and sold last year, He is not going to make this "mistake" easy for the bank to correct.)

Just wondering others' thoughts on this matter. Thanks!