B.Soc returned our deeds but we still have mortgage!

[PetPal]

Had 2 small equity releases on our home. Have paid off one. Building Society contacted us and said they would return Deeds. We pointed out that we still have a mortgage with them. They looked into it and said we were right(!) and that it was their mistake. Weeks later they sent us the deeds! I want to keep them, simply because these people are SO inefficient (not their first mistake with us) and I just don't want the trouble of trying to explain all of this to them again. Where do I stand legally if I hold on to the deeds? Come to think of it, (and I'm not promoting dishonesty but just asking), am I still obliged to make mortgage repayments given that the building society no longer holds collateral?

 

[pjmn]

As long as they have their First Legal Charge registered on your deeds, then it's actually irrelevant who holds them (inconvenient for them if they don't have them and they needed to foreclose - but that's all).

Yes you still have to make repayments if you owe them money (think you knew that anyway).

pjmn

 

[Towger]

I would just hold on to them and see that happens, chances are nothing. If you stopped paying the mortgage then you would sent up in court one-way or the other.

I know of one couple who have had their deeds since they had got their mortgage over 25 years ago. They just let the bank get excited/worried over the fact that they would not find the deeds when they finished paying off the mortgage last year.

 

[Bronte]

Doesn't the mortgage on the deed have to be discharged (there used to be a fee of about 50 IEP) and the deeds were then sent back to the solicitor who did the original mortgage. Does this not happen anymore and the bank just discharges the mortgage and sends the deeds back to the owner?