Although you have physical possession of the title deeds you will find the bank still has a charge registered over your property folio/s at the Land Registry. These will need to be cancelled which is why they suggest you get a solicitor to do this.they advise me to instruct my solicitor to discharge the bank's security on my behalf.
I have been able to clear my mortgage recently and just received the deeds from the bank. In their letter, they advise me to instruct my solicitor to discharge the bank's security on my behalf. I'm a bit confused by this - isn't that what the bank has just done by releasing the deeds to me?
Why not store the documents at home?
What is going to happen? A burglar robs them and sells your house from under you?
Brendan
I could not find anything on their website so have reached out via email to find out if they intend to do so in future. If I hear back I will update the thread.
Hello! I just thought I provide an update on how I got on this with this after receiving your very valued advice:
1. Went to a solicitor and asked for a quote if they were doing the whole lot for me. Approx 500 Euro but the
very fair solicitor said to me that she thinks I could do it myself no problem.
2. So off I went - tried to navigate the PRAI website but couldn't really figure which forms I needed, had a problem downloading one of the
ones I had identified (I would consider myself computer literate but even after downloading the latest adobe version I still couldn't get it). So I called the land registry
and they are very helpful and patient. While I had him on the phone I also asked him about "storing" the deeds ie. would he recommend putting them in storage somewhere.
The answer I got there and later in person when I went in to do the actual registration was that as long as you e register the deeds there is absolutely no reason to pay money to
store them.
Got my letter today that all is complete and am happy I saved 500 Euros! E registration cost 5 Euro and I just did that too.
Thanks again for getting me going on that
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