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johnrambo

Property Deeds

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I am currently in discussion with Accord mortgages (part of Yorkshire BS) about exit fees charged when I changed to a new provider in August 06. The fee when I took out the mortgage 3 yrs ago was £75 and this has risen to £199. However it transpires that they also charged a separate "deeds production fee" of £50 which has now been combined into the new figure. My question is that property under the Land Registry no longer has hard copy physical deeds which need storing and therefore retrieving when the mortgage is redeemed - it is purely a notification process. If this is correct, there is no case for this charge - in fact it should have come down from years past when actual deed documents had to be handled. Can anyone confirm that this is correct regarding deeds please?

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There are very few properties which remain unregistered which are still subject to title deeds. Registration of land began under the Land Registration Act 1925 and graually over the years more areas were subject to compulsory registration up until 1990 when universal compulsory registration was imposed. Even so land would only be registered when a sale or mortgage triggered registration. With registered land, land certificates replaced title deeds.

 

Electronic registration was introduced under Land Registration Act 2002, but this by no means replaces paper documents but supplements the system and allows conveyancing and searches etc to be done online.

 

In relation to the fees relating to deeds dispatch fee, I know of only one person who has claimed this and they were able to get this back from the Halifax without issuing a court claim.

 

Hope this helps

 

Zoot

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