Process for paying off the mortgage

catshark88

(Hopefully!!) We are paying off our mortgage next week. :j

Can anyone advise on the actual process?

We have an offset with Barclays and will go into the branch and ask for a statement etc. Do we need to involve a solicitor at all? Presumably deeds are all electronic these days??

Thanks for your help.

CS

rara32

Hi Catshark


Congratulations you must be :j

When we paid ours off in April we phoned our building society (NWide) and got a redemption figure and they told us everything we needed to do over the phone. We then did an on-line transfer to the mortgage account on the 'happy' day and called them again to close the account.


NWide then sent us a letter about 2 weeks later confirming closure of the mortgage account and then a few weeks later we got a letter from the Land registry to confirm the change. The letters were all very formal which is to be expected - not the wow congratulations you've paid off your mortgage that I would have loved but the lady at Nwide was lovely and just logging on to our account to see it was closed (a couple days after sending the payment through) was pretty cool.


I have to admit it did seem a bit of an anti-climax at the time but to be honest I am not sure it has really sunk in yet even though it has been a few months. But we made up for it with a celebratory lunch! Looking back I can see how going into branch would have been great but on-line was easy and stress-free and I was all nervous excitement for about a month before we paid it off.

I would phone Barclays and get them to talk you through the different options - we did not have to use a solicitor though.

Congratulations again.

Rara