Mortgage Discharge costs question.

zebidee1

Hi everyone. Can anyone help me with a mortgage query please?

I'm in Scotland and have recently paid off my mortgage (early)with the Alliance & Leicester. I paid the required redemption fee and have just received my title deeds with a letter telling me they (A&L) can't deal with the Mortgage Discharge and I have to get a solicitor to deal with this under Scottish Law.

I've never been told this before, is this correct?

If so, the solicitor isn't going to do this for free so I'm going to have to shell out for a service that people in England get included in the redemption fee. Seems unfair when we all pay the same standard fee.

Anything I can do or is it just a case of acceptance and pay up?

zebidee1

Anyone?

Would I be better asking this in the Scotland Board?

regularsaver1

probabaly

hard for some people to answer at scottish law & procedures is different

zebidee1

Thanks for replying regularsaver1. I'll post in the Scotland board in the hope someone can advise me.

homer_j_3

I am not sure about scottish law but in England if you repay your mortgage in England then the mortgage company electronically remove their charge from the land registry. However until a solicitor does their bit, it is not physically removed from the title.

I would imagine that it would be something similar in scotland or if it is not then it will be down to the fact that the A&L do not have the ability to deal with the relevant people in Scotland.

Sorry for my intentional generalisation but when you study to be a mortgage adviser, they do split the content between english and scottish due to the massive differences in law.

Emmzi

Your alternative is to leave the charge standing. academically speaking, as you owe them nothing, it isn't risky, and enables you to take cheaper secrued lending against the property in the future should you need to.

However, it isn't a massive task for a lawyer. I'd call a couple and get quotes.

Regarding costs compared to england.. well, they aren't all the same. For example, you night only have had to pay one survey fee.. didn't get gazumped... etc. Swings and roundabouts...

zebidee1

Hi everyone. I hope you don't mind me bumping this old thread but I have another question about it.

I never did do anything about this and the same situation still stands.

I now want to remortgage my house to raise money for some fairly big improvements and I want to apply for the ING flexible mortgage. Does the fact that I never got a solicitor to deal with the discharge thing now going to cause a problem? Can ING deal with it or should I get a solicitor first before applying for their mortgage?

Thank you for your thoughts.