Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • alona1
    • By alona1 15th Sep 17, 7:45 AM
    • 291Posts
    • 337Thanks
    alona1
    Paying off mortgage process
    • #1
    • 15th Sep 17, 7:45 AM
    Paying off mortgage process 15th Sep 17 at 7:45 AM
    Good morning, it's been a long time since I've posted on here.

    The opportunity has arisen for me to pay off my mortgage. Can any of you knowledgable folk advise me of what the process is? Do I have to use a solicitor? Are there standard fees? What's your experience?

    I've asked for the statement from my mortgage company (MAS 5) so awaiting postal confirmation of that.

    Thanks in advance
Page 1
    • Boredatwrork
    • By Boredatwrork 15th Sep 17, 10:19 AM
    • 263 Posts
    • 417 Thanks
    Boredatwrork
    • #2
    • 15th Sep 17, 10:19 AM
    • #2
    • 15th Sep 17, 10:19 AM
    Are you on the SVR rate or fixed into a deal.

    If you are in a deal there will more than likely be charges.

    I would call your lender and ask them, they should be able to tell you directly regarding the costs.
    • alona1
    • By alona1 15th Sep 17, 10:46 AM
    • 291 Posts
    • 337 Thanks
    alona1
    • #3
    • 15th Sep 17, 10:46 AM
    • #3
    • 15th Sep 17, 10:46 AM
    Thanks for your reply, no I'm not tied into any deal so no repayment fees. They just mentioned a £20 and £50 fee for deed change I think (confirming by letter). I just want to know if I have to go through the solicitors really as I don't want to pay them in top?
    • JB123
    • By JB123 15th Sep 17, 1:10 PM
    • 4 Posts
    • 1 Thanks
    JB123
    • #4
    • 15th Sep 17, 1:10 PM
    • #4
    • 15th Sep 17, 1:10 PM
    I did this 5 years or so ago. All I did is call up my mortgage company and tell them what I wanted to do, and they were able to give me a "quote" over the phone of the total amount I needed to pay them including any (small in my case) fees. They send a copy through the post and I sent them the money, and that was basically it.

    I had to fill in a small form saying what I wanted them to do with some documents etc they had but it didn't require any solicitor or anything
    • alona1
    • By alona1 15th Sep 17, 1:15 PM
    • 291 Posts
    • 337 Thanks
    alona1
    • #5
    • 15th Sep 17, 1:15 PM
    • #5
    • 15th Sep 17, 1:15 PM
    Brilliant, thank you. I was hoping that was the case.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

103Posts Today

1,613Users online

Martin's Twitter
  • I believe I can boldly go where no twitter poll has gone before https://t.co/HA0jC92gAK

  • OK I'm wilting to public pressure and there will be a star trek captain's poll at some point next week

  • I can get that. My order is 1. Picard 2. Janeway 3. Kirk. Too early to say where Lorca will end up (or would you? https://t.co/kawtCOe9RA

  • Follow Martin