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The Mortgage Route A to Z
Deeds

This glossary or A to Z should help clear up any confusion as to what terms mean what in the mortgage and insurance industry

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Letter D

Deeds

The legal paperwork that proves title to a house they are the ownership papers like a log book with a car.

If you own your own home and do not have a mortgage on the property you will have the Deeds yourself or your solicitor may have them for safe keeping.

If this is the case and they are not kept by your solicitor for safe keeping you should be aware that they are very important documents and should be kept very safe you can also lodge them with a high street bank but like the solicitor they may charge a fee.

It has been known for mortgage clients to agree with their lender at the end of the mortgage to leave a small amount owing on the debt, such as 100.00, the mortgage company charges a nominal payment per annum for this amount and they keep the deeds in a safe place for the client. It should be noted however even thought the debt is small there is still a charge registered against the property in favour of the lender, though I think this can be a small price to pay for keeping the documents safe.

FSA declaration and important text about mortgage advice