I have deeds of my house/bank want them?

Hi All,

First post looking for help and advice.

I re-mortgaged my home 4 years ago with the intention of using the money to start up a small business. I nearly got there but it failed in the end, so pumped the money into the house. It was very awkward and messy changing over from bank 1 to bank 2, as bank 1 were not impressed. Anyway about 2 months later a bundle of paperwork was posted through my letterbox, in it was a load of paperwork from bank 1. I didnt look through it all just put it in a box and left it.

After about a year bank 2 sent me a letter looking for the deeds to my property. I thought nothing of it as I thought that they should have them and left it at that. All in all I got another 3 of the same letters over a 6 month period and then they stopped and have not received one for well over a year now.

I lost my job 2 year ago and with the hope of finding work was paying back the mortgage now from my re-mortgage money, w hich now has all gone. In the meantime I approached the bank and they were very helpful and gave me a holiday break of 3 months and a further 6 month interest only pay back. I didnt find any work where I am living and am now heading back home next Sunday to start a small job. I dont want to, but I have to.

Anyway whilst packing and throwning out a few items I came across the brown envelope and sat down and went through it. It contained the deeds of my property, maps, plans, and more paperwork. Sorry for the long intro but my question is, what to do with them, I was told if I have the deeds of my house it could be a bank error that I have them, and should they have released the money to me not knowing the whereabouts of the deeds, or do I just give them back......

thanks

Keep the deeds, don't trust the banks.

THe bank will have registered a charge on the property, so even if you have the deeds you can not sell the house.

you can,t sell the house but the deeds might as well be in your pocket as in theirs, possesion is 9/10's of the law. Why should you give them a stick to beat them with?

Should of course read "to beat you with"

Also maybe bank 2 might think that they have lost your deeds, very incompetent either way. You are best to say nothing and put the envelope somewhere safe and out of their reach.

What is the issue here?

You borrowed money secured on your home.

Your home is the security of the bank.

Give the deeds to the bank as you undertook to do, when you borrowed the money.

Brendan

thanks john for your replies,,

also ding dong,you are correct,even though i have the deeds "in error" i can never sell on...

hi brendan,
advice taken and deeds are going back.....