Petts Wood

Petts Wood is a suburb of London in the London Borough of Bromley. Most of Petts Wood was built in the early twentieth century by the developer Basil Scruby together with Master builder, Noel Rees, as a high quality estate in a rural setting only a short train journey from the city, with the East side being built first. Noel Rees’s name is still used as a selling point by estate agents, his houses can be found in Great Thrift, The Covert, Princes Avenue, Wood Ride, Kingsway, Chislehurst Rd, The Chenies and many other roads in Petts Wood.

If you want to get a Mortgage in Petts Wood you have to keep in mind that the interest will continue to accrue to the time the lender actually receives your check. So I would add 10 additional days of interest, just to be on the safe side. All legitimate mortgage lenders will refund any excess payments to you.

What about any escrows that your lender is holding to pay real estate taxes and insurance? The payoff statement should advise you of the amount being held in escrow. Some lenders will deduct this amount from the outstanding balance; most lenders, however, will send you a separate check for this amount after you make your final payment.

And don’t forget to advise both your real estate tax office and your insurance company that you will now be responsible for these payments. I recently represented a lawyer who paid off his loan, but forgot to advise the taxing authority. It was only when he learned that his house was about to go to tax sale that he was able to resolve the situation.

When you first got your loan, the deed of trust was recorded among the land records in the jurisdiction where your property is located. Now that you have paid off the loan, you want to make sure that it will be released from land records.