Or you have the option of taking the lot back to the financial institution you originally borrowed from if you want to set up a new loan at any time, without paying all the fees involved in establishing a new mortgage.
If you don't collect the documents, most banks will eventually start charging you safe custody fees anyway. They don't do anything for free....
As for the value of safe custody lodgements, we keep all our birth certificates, our marriage certificate, passports, wills and life insurance policies in ours. It costs us nothing to take any documents out if we need them, and we're never in danger of misplacing them or losing them in a fire. That's about $1000 worth of documents we don't have to pay to replace in the event of a fire or flood or whatever, and if one partner dies, the other (and our executor) knows exactly where to find wills, life policies etc.
A bit less stress in my life is a good thing.
Thanks kek, that clarifies it. Also great tips for document safe keeping !