We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage repaid - now they want another £180!
Mortpuff
Posts: 1 Newbie
Hi there.
I have just finished paying off my mortgage, which is extremely exciting and I am very pleased! However, in the closing documents I have just been sent, they are asking for another £180 to extricate myself from the charge that they put on the mortage. Is this normal?
The letter says:
'As you will be aware, the Bank holds the Charge over your property ..... Please can you arrange to forward £ 180 to ..... quoting your mortgage account number. This is a charge levied by the Bank’s Solicitors if they are required to act on your behalf. Alternatively, you can instruct a solicitor to act on your behalf. Please advise us of their details. We will then instruct our securities department to release the security held.
This seems like an unfair sting in the tail and I could really do with that money. Why do I need to get a solicitor to tell them what they already know and have also told me, that I no longer owe them any money and that the charge should be binned.
If it is normal I guess I will just have to suck it up, but I wasn't expecting it and wanted to check with others.
I have just finished paying off my mortgage, which is extremely exciting and I am very pleased! However, in the closing documents I have just been sent, they are asking for another £180 to extricate myself from the charge that they put on the mortage. Is this normal?
The letter says:
'As you will be aware, the Bank holds the Charge over your property ..... Please can you arrange to forward £ 180 to ..... quoting your mortgage account number. This is a charge levied by the Bank’s Solicitors if they are required to act on your behalf. Alternatively, you can instruct a solicitor to act on your behalf. Please advise us of their details. We will then instruct our securities department to release the security held.
This seems like an unfair sting in the tail and I could really do with that money. Why do I need to get a solicitor to tell them what they already know and have also told me, that I no longer owe them any money and that the charge should be binned.
If it is normal I guess I will just have to suck it up, but I wasn't expecting it and wanted to check with others.
0
Comments
-
Have a look at the fees section on your mortgage offer (it is section 4 if your latest offer was issued in the last maybe 4-5 years).
It is a deeds release fee, it seems to vary from around £100-250. On the land registry it has your mortgage lenders name on there. To get that name taken off someone has to do some paperwork.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.3 -
Yes, it's normal. In the same way that (generally) you pay the legal costs for the mortgage to be set up in the first place.1
-
Looks like admin charge. A small charge I will pay it.
Congratulations.1 -
Very kind of London21 to offer to pay the mortgage exit fee 🤔
Well done on paying off the biggest debt in your life ( for most people )4 -
I paid something similar back in 2014 when i paid off my mortgage, took me 10 years to pay it off.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards

