Mortgage Redemption

Equaliser12345

Our fixed rate is ending at the end of this month and we will be redeeming the mortgage.

It seems that the process now is that the mortgagee (i.e. the bank) notifies HM Land Registry that the charge can be released.  Has anyone experience of this and/or idea of timescale?

Thanks

dimbo61

Well done if your clearing your mortgage and then become mortgage free.
Your lender will inform the Land Registry that they want to remove the charge they have on the property.
LR are very busy at the moment so it may take months.
Do you need the confirmation urgently ?

Equaliser12345

dimbo61 said:

Well done if your clearing your mortgage and then become mortgage free.
Your lender will inform the Land Registry that they want to remove the charge they have on the property.
LR are very busy at the moment so it may take months.
Do you need the confirmation urgently ?

Thanks for that.   Yes, we'll be mortgage free.  Looking forward to it.

The process seems to have changed since the days of asking the outgoing lender to sign a Form 53.

No massive urgency for the Charges Register to be cleared.  Just that we may be moving over the next 12 months or so.

chanz4

a lot are using the auto system for charge removals, ours took a week