Ending Mortgage

Sgt Pepper

Registered User
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Hi, I'm within a few months of finishing with my mortgage with Pepper Finance (who recently took it over from Bank of Scotland). Is there anything I need to do or watch out for as it comes to an end or will this happen formally with notification in advance. I've finished other smaller loans before without notification and the money has been redirected into a savings account (credit union arrangements). thanks in advance.
 
When my mortgage (Ulster Bank) finished, I experienced a number of frustrating points – they wanted €38 (sealing fee !) and wanted it paid by cheque and delayed the account close while waiting for it, they didn’t bother sending on the deeds (because I didn’t ask for them to be returned) etc. Based on my experience, I would suggest that you contact the mortgage provider now and ask them to set out in writing the details around finalisation. Review these and make sure that anything you have to do is boxed off in good time. Also, if you have a mortgage protection policy in place and you are paying monthly it would be a good opportunity to review that. And congratulations in advance on reaching the finishing line – it’s an amazing feeing to walk through your front door and think…….It’s all mine.
 
AIB were easier, got a letter confirming the account was closed, a follow up when the deeds were ready for collection.

One thing to think about is where you're going to store the deeds, so fireproof safe or with solicitor might be good options. Have something lined up though. They also wanted both myself and wife to collect deeds, or a letter instead if 1 person couldn't make it, but that's ok with me.
 
 
Sorry for digging up an old thread...

I'm hoping to clear off the mortgage with AIB this/next week.

Can i ask what did you have to do after paying off the mortgage?

I read few threads and I read few suggestions about going to the council or land registry office with a form? Perhaps thats an old requirement? I purchased a new build in Dublin in 2016.

is there a check list which I can tick to ensure I have received everything I need?
 
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