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End of mortgage
Notebook
Posts: 297 Forumite
Hi All
I owe about 4 k on my mortgage and having no debts and more than enough to repay it without going skint, can someone tell me the process or what happens should I choose to settle this balance.
What happens to the deeds? who looks after them, costs etc.
Really dont know the process, so any advice appreciated.
Thanks
I owe about 4 k on my mortgage and having no debts and more than enough to repay it without going skint, can someone tell me the process or what happens should I choose to settle this balance.
What happens to the deeds? who looks after them, costs etc.
Really dont know the process, so any advice appreciated.
Thanks
0
Comments
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Get a settlement figure from the lender, draw a cheque and pay it off.
Deeds aren't that important anymore, so the lender should return those to you. I keep mine in a fireproof tin, but there's no real need to secure them as the Land Registry keep electronic records that have replaced the paper.
Some lenders will charge a fee at the end of a mortgage c£200.0 -
top answer - all I needed to know...
Thanks0
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