Discharge of a Mortgage deed ..

Hanab

Hi, can anyone enlighten me on what is this? If it is a necessity? Who assists with this and if optional what are the benefits? 

Thank you in advance! 

user1977

It's to remove the security from the property's register. It would need to be done before you can sell (or remortgage) the property so in that sense it's compulsory (but you don't need to do it immediately on paying off the mortgage). Give us a bit more information about why you're asking (and which country the property is in).

Hoenir

If you provided some background information. We could provide a far better explanation. 

Hanab

Hi, sorry been out today. Our mortgage is coming to an end and we were told to do a ‘mortgage discharge deed’. Lawyers are quoting £600+ that is a kin to another mortgage payment that I would not like to pay if at all possible. Thank you 

silvercar

I thought that lenders sort this out themselves. I may be wrong.

Barclays state they do as an example, https://www.barclays.co.uk/mortgages/existing-customer-centre/end-of-term/

user1977

Hanab said:

Our mortgage is coming to an end and we were told to do a ‘mortgage discharge deed’. Lawyers are quoting £600+ that is a kin to another mortgage payment that I would not like to pay if at all possible.

You still haven't told us which country the property is in. England & Wales, Scotland and Northern Ireland each have their own land registration systems, so the discharge requirements differ.