Quote Originally Posted by Ducatista
They often charge a "deeds release fee" for putting them in an envelope, but once you have them you don't then have to pay the bank £40 per year for storage. You never did actually most solicitors will keep them for free. It's just another cash cow to make money from apathetic people.

The biggest advantage of keeping a mortgage if you don't need one is that it keeps a "charge" held on your property centrally at the land registry and this is an effective way of stopping fraudulent transactions as it makes it more difficult for anyone else to put a charge on your property.
That isn't exactly fair to say as people are not told what options are available for deeds and,of course, the minutiae comlexities of having a mortgage/home/business are in place simply to create 'experts' that we can all 'enjoy' : paying because the info is difficult to find and the processes unduly complex due to governments fiddling about---simplicity of transaction saves cash---and almost unheard for a solly to do somat entirely free..my deeds with the mortgage lender and not checked if they charge to have them.

Not sure what you are getting at about 'fraudulent transactions' :-?

mildly interesting subject all the same