Paying off your home loan is an outstanding achievement. However, people often think that they are automatically mortgage-free once their home loan is repaid. This is not correct!

A mortgage is registered on the title by your solicitor when you purchase or refinance your home. However, when it is repaid, the mortgage security still sits on the title until it is released by your bank with support from your solicitor.

Without a lawyer, you will be unable to become mortgage-free, so make sure you get in contact with Collins & May early so that you can enjoy the debt-free feeling.

Discharge of Mortgage

What Is The Process Of Discharging Your Mortgage?

It is important to remember to have the security discharged from the property once the loan has been repaid. While many want to do this straight away to get that full mortgage-free feeling, if you would like to borrow more money in the future, it might be worth leaving it on your title. That way, you will avoid the costs of having to register another mortgage in future.

The team at Collins & May will advise you on what the best option is for your property.

If you decide to discharge your mortgage, we will get in touch with your bank to release the mortgage from your title. Our experienced team will answer any questions you might have and ensure you come out mortgage-free from the process!

Have You Repaid Your Home Loan And Want To Be Mortgage-Free? Get In Touch With Us Today.

We can contact your bank for you and get their authority to remove the mortgage from the title, making you mortgage free! If you would like to get the process underway or would like us to check your title to see if you still have a registered mortgage, don’t hesitate to get in contact with our team.