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PhilipInCoventry
Holbrooks
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136 of 144  Tue 15th Aug 2017 12:37pm  
Moderator: Joined Apr 2010  Total posts:3838

Hi all Wave Deedsafe For many of us, we spend umpteen years of our lives paying off our mortgage, for the happy day to arrive when we have completed the outstanding debt. That was over thirty years ago for me. Upon completion, the building society in those days offered a free Deedsafe service, where they retain the deeds, which nowadays is usually a fiche record. Out of sight & out of mind it is forgotten. To do that nowadays most banks & building societies make a charge. Anyway, as it is nearly ten years since I received a formal confirmation letter for the Deedsafe, I popped into the building society so as to arrange written confirmation of the zero debt & the safekeeping of the deeds. I am posting this here as I hear some horror stories, some involving criminal fraud as well as accidental loss. Our Land Registry folk are very strict on property ownership changes, the first port of call being to assess any outstanding debts. Loads of folk have Deedsafe, & if like me 49p is still owing, the Land Registry may stop an exchange until the debt is qualified. In a recent case of house purchase, a nine chain exchange was totally thwarted because of non-clarification of the outstanding debt - the case involved £0.50p. So, just a timely prompt that if you own your own home, do you know where your deeds are?
Retirement
NormK
bulkington
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137 of 144  Tue 15th Aug 2017 1:13pm  
Member: Joined Jan 2012  Total posts:847

Good question Philip, I have no idea where ours is at. Probably CBS, I must ask next time I go. Thanks.
Milly rules

Retirement
Helen F
Warrington
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138 of 144  Tue 15th Aug 2017 3:26pm  
Member: Joined Mar 2013  Total posts:764

Good point, the banks are sneaky about charges. I paid my mortgage off in about 1999 and then moved the deeds to my solicitor. Unbeknown to me they had a fire and many deeds were severely damaged including mine, my aunt's and my parents' but didn't tell us until I was selling my house Oh my . Fortunately we had copies and the solicitor electronically registered all three for free with the Land Registry (well we insisted and they reluctantly agreed). Now the records are 'safe' and the paper copies are no longer as important. So if you haven't had yours registered, please think about doing so.
Retirement
PhilipInCoventry
Holbrooks
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139 of 144  Thu 17th Aug 2017 9:48am  
Moderator: Joined Apr 2010  Total posts:3838

Hi all Wave Just chat. One of our members has today shared with me a "holiday disappointment" to put it politely, more like a horror story. In life, the best laid plans of mice & men can sometimes go wrong, whether by mishap or incompetence, whether it is holidays or a car-space to a new house where only a motorbike fits. Until 2012, I had most years enjoyed many holidays away from home, with Pam & sometimes small-groups. Rail holidays, canal boats, coach holidays, the lot, yet I cannot recall any real horror stories for all of my adult life. A few years ago, I made a conscious decision to make our home as care-home friendly as possible. I love coming home, no matter wherever I have been, where weather permitting we can relax in our own garden, which is why we have spent a few bob on it of late. I don't live in a manor house or stately home. It's a Coventry town house at the end of a non-conspicuous cul-de-sac, with an odd shaped garden to boot. We don't have Chatsworth-like grounds either, which is just as well, as I don't believe there is a bus service around those grounds, where as nearby where I live, there is a metal pole in the ground that when I stand there, a bus comes. It's as simple as that. I went to Atherstone yesterday where I had a lovely day, after meeting friends for breaky in Bedworth. Just now we have forum friends visiting our city who live in Australia, who I am looking forward to meeting very soon. I did have a brief contractual holiday home venture in Salcombe, Devon, many years ago, but that wasn't all it was cracked up to be, so only lasted a few years. My eyesight issue restricts my freedom to drive, as it has for the last two decades, but my bus-pass coming along has more than made up for that, even enabling me to continue with a volunteering commitment, which is actually superior to driving. Pam & her sister are going away together in a few weeks time, so I will be on house, tropical fish & cat sitting duty at home during that period. With no through traffic, sitting out at the front is very convenient, even for the matron, as here in the picture. Best wishes Philip.
Retirement
PhilipInCoventry
Holbrooks
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140 of 144  Thu 17th Aug 2017 11:31am  
Moderator: Joined Apr 2010  Total posts:3838

Hi all Wave Equity Release I have said so much about this issue but whatever the myths or non-myths, what is fact is that very little if any is ever left over for family or loved ones following equity release. That is why we are all being encouraged to do it. You obtain 40% of your home value, the remaining 60% goes to the "fat-cats", not anyone else. They are laughing all the way to the bank!
Retirement
PhilipInCoventry
Holbrooks
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141 of 144  Tue 7th Nov 2017 9:44pm  
Moderator: Joined Apr 2010  Total posts:3838

Hi all, a very sad issue. Funeral business closes. It's often tempting to do what we can by planning ahead for what will eventually come to us all. Some pay for their funeral costs in advance, or pay so much a month to an over 50 plan, like the nice man tells June about on the tele advert, even offers to lend her his phone. I don't know what's going to happen tomorrow, or the next day leave alone next year. I am aware that an undertaking businesses can go horribly wrong, as in the news link, just as any other business can. When I was a boy, who could have told me then that over half of the pubs in Coventry would have gone in my adult life-time. So, please be aware, a guarantee might not be worth the paper it is written on, for all sorts of reasons. Even a business that appears to be secure, might be involved with a merger, a takeover or maybe a leading business partner becomes ill, the business limps along being headed by someone, even a family member who basically hasn't a clue. It's not easy for anyone forecasting costs ahead of time. The average cost of a West Midlands funeral twenty years ago was just under £1000, whereas today it is between £3000-£4000. That needs good forward cover skills to guarantee that the undertaker remains solvent.
Retirement
Dreamtime
Perth Western Australia
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142 of 144  Wed 8th Nov 2017 6:03am  
Member: Joined Jan 2010  Total posts:2866

Thanks Philip, a very good topic for all of us retirees to take on board. I made a wise move when my better half passed away. I spent a small sum on a double plot instead of just the one, making sure I would join him when my time came. My children - adults now of course - have been well ensured of any expenses incurred when I 'go'. As you say no one can forecast future costs and I am sure a great many elderly folk are not prepared or cannot predict when their time is due. It's a very difficult topic to actually sit down and talk about to your family - 'Oh Mum do we have to talk about that now'. Well I did and it helps a lot in any preparations you have to make after discussing it with them.
Retirement
Old Lincolnian
Coventry
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143 of 144  Wed 8th Nov 2017 8:04pm  
Member: Joined Sep 2012  Total posts:457

Yes Philip, we always think it’s something that only “old” people need to think about without realising a) that's not true, and b) many of us are what our younger selves would have called old people. We lost our daughter just over two years ago and she insisted on sorting everything out when she first became ill which made things slightly easier. As a result of this the whole family had a discussion about what we wanted and we are fortunate enough to be able to put the money to one side to cover things (dependent upon inflation of course). We also realised that we needed to rewrite our wills and our funeral wishes are a part of them and it is a chance to discuss organ donation wishes as well. Depressing post over. Wave
Retirement
Kaga simpson
Peacehaven, East Sussex
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144 of 144  Thu 9th Nov 2017 11:19am  
Member: Joined Sep 2014  Total posts:1811

It's funny this has cropped up now - only two days ago we visited the undertakers and sorted this all out. Thirty years ago I took out insurance, but at today's prices it's now a joke. It was quite traumatic for my wife but it's now done and settled with a 5 year guarantee, will, service, cars etc, all paid and settled (all I need now is a date). Make things easier when the time comes. I'm certain I don't have five years - certainty, should bet on it, also the reason I'm trying to write things down. Cheers
Retirement

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