Repaid Your Mortgage?

Once you have made your final payment, you will be required to remove the mortgage from your title deeds formally.

When you take out a mortgage to buy a property, your lender will register their charge over the title using a legal document called a Standard Security. This means that, although you will be registered as the property owner, your lender’s name will also be included on the title documents. This happens to reassure your lender that you won’t sell your house before you have paid it back in full. In practical terms, you won’t have to discharge your mortgage unless you plan to sell or transfer the property to someone else, but many homeowners choose to discharge once the mortgage has been paid off for peace of mind and to prevent problems arising in the future.

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