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Mortgage finished-overpaid

My mortgage finishes soon, endowment. The endowment company are sending the cheque to the building society ( it was assigned to them apparently) I have been overpaying for years and the cheque will more than cover the debt, about £5000 more. So what happens next? will the building society send me a cheque or will they let me collect the difference along with the deeds? My problem is that I split with my partner 17 years ago, he assigned the house to me with a solicitor deed of assigment of beneficial interest but as I couldn't get a mortgage we left the mortgage as it was and I paid ever since both mortgage and endowment. I had the endowment assigned to me too but didn't realise it was already assigned to the building society. As he is first named with building society will the cheque go to him rather than me? How long does it stay in the account before they post it and do they pay interest? TIA

Reply to
Jen
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Hi, You may get the better reply from the society but consider letting the building society keep your deeds. When we paid off our mortgage we left a sum of 1 owing. Cheaper than a bank safe deposit box and do you actually need the documents to be in your hands........... unless the ex partner poses a risk?

How does the society currently communicate with you / your expartner? Do you get a copy each or as I suspect you are the sole recipient of any communication?

Gio

Reply to
Gio

No, I don't need the documents for anything. I wondered about electronic deeds, not looked into them as yet but thought I read something about not bothering with paper ones any more.

Letters arrived at this house addressed to both of us, he is named first. I am worried they will send a cheque to him or a joint one. I am sure he would have good intentions to hand over the money but his bank who he probably owes money to may step in when it goes into his account. I guess I better get in contact with the building society tomorrow :-( Thanks for your reply

Reply to
Jen

Yeh, paper deeds are now dead in the water, provided land registry have title registered - you can check this for a small fee (or ? free phone enquiry ? - google them! )

Reply to
andy1973

Checking existence at the Land Registry is free. The last I looked, a non-authorative online copy of the statement of title cost £4. One acceptable to the solicitor will be offline and costs slightly more. Plans and other documents add to the cost.

I don't know if they necessarily hold all the documents. That may become relevant if you ever want to argue over who maintains a fence, etc. You ought to have been given non-authorative copies at the time you bought, although for a flat, you probably don't have anything above the leasehold.

Reply to
David Woolley

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