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Title Deeds: Redemption of Mortgage
getk
Posts: 33 Forumite
My parents have recently redeemed their Mortgage (early Jan 2024). When we called the mortgage bank, they said they will do the final processing and inform Land registry.
We haven't recieved any letter with title deeds, but when I logged into Land Registry and paid £3 for the title deeds, it came up with parents name only in the Registered Owners.
- Does this mean that any 'Charge Holders' have been removed? (i.e Bank has no more rights on the property?)
- Do I need to do any other process related to 'house ownership' once mortgage is completed? (like involving a solicitor etc?)
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Nope : all taken care of automatically. All you will "see" as you allude to above is that there is no longer a charge in favour of the bank.
All a bit of a damp squib I'm afraid.2 -
Your parents names would always have been shown as the owners - it’s the “charges register” you need to check to make sure the charge has been removed. These days discharge of charge is usually dine electronically though - and yes, it can be very quick!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her1 -
Once mortgage free it’s worth registering for land registry alerts. https://www.gov.uk/guidance/property-alertIt’s also worth getting hold of the paper deeds - fascinating for house and local history - and perhaps thinking about depositing them at the local record office.1
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Probably just needs the lender to tidy up the paperwork at their end. Takes a few weeks before a letter gets issued.1
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EssexHebridean said:Your parents names would always have been shown as the owners - it’s the “charges register” you need to check to make sure the charge has been removed. These days discharge of charge is usually dine electronically though - and yes, it can be very quick!Thank you for that.In the 'Charges' section, there is NO entry of the bank. It just has some 'old covenants' (eg like do not send sewer water etc and old land transfer of land entries when house was built)So if there is no entry of the 'bank' in Charges, that means all is clear then?0
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getk said:EssexHebridean said:Your parents names would always have been shown as the owners - it’s the “charges register” you need to check to make sure the charge has been removed. These days discharge of charge is usually dine electronically though - and yes, it can be very quick!So if there is no entry of the 'bank' in Charges, that means all is clear then?
Yes. There is no longer a charge (mortgage) registered in the bank's name.
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