Can I trick Nationwide?

By THIS IS MONEY
Updated:

 

I have a Nationwide mortgage. If I pay all but £1 of it off, will Nationwide look after my house deeds for me for free? And given that all records are being computerised, do I need paper copies of my deeds anyway? F.H., Seaford, Sussex.

Money Mail's Margaret Stone says: 'If the mortgage completed after November 1, 1999, the borrower should already hold the deeds themselves,' says a Nationwide spokesman.

Where the mortgage completed before November 1, 1999, Nationwide will have the deeds and be able to retain them for the borrower if they pay all but £1 off the mortgage.

The deeds won't be computerised unless the borrower takes their mortgage on their existing property to another lender.

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