Title Deeds' Value Little More Than Sentimental ; You and the Law Jeremy Woodward Property Specialist, Answers Readers' Questions

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Q: After taking out a mortgage with the bank and moving into our property we were sent the deeds to our house. Is this right? We have 24 years of payments to go!

A: Yes. Since your property is registered at the Land Registry, all the important information concerning your house is now stored there, as opposed to on the title deeds. Title deeds, except in increasingly rare cases of unregistered property, are now of little more than sentimental value. Your bank's interest in your property will be recorded on the charges register at the Land Registry. So if you tried to borrow further against it, for example, the prospective lender would be able to see that you already have a mortgage with the bank. Q: We have paid off the mortgage on our semi-detached house, which is worth somewhere in the region of Pounds 180,000. The house needs some work doing on it. We would like some information on equity release, and whether that would be the best way of financing the improvements while still allowing us to live in the house until we die.

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Title Deeds' Value Little More Than Sentimental ; You and the Law Jeremy Woodward Property Specialist, Answers Readers' Questions

A: Whether equity release is right for you will depend very much on your ages and financial situation. Th...

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