Paying off mortgage

Eddie2023

Hello, I know this has been asked before but the posts seem quite old

We have a Nationwide mortgage - when it is finally paid off, do we need to use a solicitor to remove their details from anywhere ?

43722

I never did anything like that. I think I had a letter from Halifax or NatWest to say they had no further interest in my property.

Eddie2023

Thank you, I was hoping it would be like that

dimbo61

You might have a small exit fee when you have paid off the mortgage.

Tiglet2

The lender will remove its charge from your deeds so you don't need a solicitor at all. 

If you want to have a copy of the updated deeds, showing that the charge has been removed, you will need to download them from the HM Land Registry site yourself for £3.

As said above, sometimes the lender charges an exit fee for their administration in removing their charge.

Vectis

When we paid ours off via a lump sum, we phoned the bank first to get a quote for the amount required to pay on a specific day and then went along to the local branch (if you can find one!) to transfer the money.

The bank teller wanted to charge a fee, but we showed them the letter from the bank Head Office for the final settlement fee and the manager agreed there was no fee payable.

No solicitor required. I presume the bank organised the removal of the Charge on the Register. You can check it's been cleared afterwards.

It was all rather subdued and understated. We were expecting marching bands and ticker-tape but got nothing of the sort! Only joking, obviously, but it felt quite 'ordinary' for such a momentous day.

Eddie2023

Thank you all ! There is an exit fee I think but alot less than paying for a solicitor

jimbog

if you set up a (free) property alert on the Land Registry website you'll get an automatic email to say something has changed on your title (for the better)
https://www.gov.uk/guidance/property-alert

Eddie2023

jimbog said:

if you set up a (free) property alert on the Land Registry website you'll get an automatic email to say something has changed on your title (for the better)
https://www.gov.uk/guidance/property-alert

Thank you. I didn't know about this, really useful

EssexHebridean

The property alert thing is excellent - when the application was made to register our recent purchase the alert pinged through on my email roughly 30 seconds afterwards. I was most impressed! 

Eddie2023

EssexHebridean said:

The property alert thing is excellent - when the application was made to register our recent purchase the alert pinged through on my email roughly 30 seconds afterwards. I was most impressed! 

I'd never heard of it before today but am signed up now 😊