M
NoIf for some reason into the future i wish to move house ,are there any downfalls in having to start /open a new mortgage.
YesWould i still be entitled to interest relief ?
Not that I know of.Are there any alternative in finalising the deeds rather than goiing through a solicitor ?
Thanks mellon
If you mean vacating the mortgage claim by the lender from the deeds then you can do this yourself by bringing the deeds to the Land Registry/Registry of Deeds and paying them the fee directly. The lender will probably offer to do this for you for a higher fee.Are there any alternative in finalising the deeds rather than goiing through a solicitor ?
If you mean vacating the mortgage claim by the lender from the deeds then you can do this yourself by bringing the deeds to the Land Registry/Registry of Deeds and paying them the fee directly. The lender will probably offer to do this for you for a higher fee.
It was about £25 when I did it c. 2000. Check the Land Registry website and it should be stated there.How much is the fee?
I think the lender gives you a letter confirming that the loan is paid off and you bring that. Can't remember for sure at this stage.Do you have to bring any documentation from the bank acknowledging that they can be removed from the deeds or do they assume its ok once you have the deeds?
It's pretty simple. Your lender should be able to fill you in on any other details. I was with EBS and they were very clear about what I needed to do. It was a nice feeling walking out of Setanta House with the mortgage vacated and the deeds under my arm. And then onto PTSB to lodge them for safe keeping.I paid off the mortgage on my apartment last month and want to do this without incuring any unnecessary extra expenses. Any other tips on mistakes to avoid welcome.
Just rang aib to close my mortgage account. The guy on the phone insisted that they have to send the deeds to my solicitor (who retired from his legal firm last year). He didn't seem to want entertain the possibility of just giving me my deeds directly.
And then onto PTSB to lodge them for safe keeping.
No charge. I have been with PTSB for years now as a current account and previously savings account customer but not for any other products or services including safe keeping before this.Did they charge you for this service or did you have the facility with PTSB already?
EBS would not keep the deeds for me at the time. Full up they said. Other than PTSB my next option was going to be my solicitor or a fireproof safe at home!When I cleared mortgage with EBS I left deeds with them as I was selling shortly afterwards but was interested in exploring options had I needed to take them.
I agree. I don't believe that this is the case. Certainly not my experience. EBS helpfully explained how I could get them to do it for a fee on top of the normal Land Registry charge or just take the deeds myself (possibly with a letter from them confirming that the mortgage had been cleared) and sort it out with the Land Registry - which is what I did. Why not print out this thread and present it to your lender and ask them to comment?Thats rubbish as far as I know. You own the deeds and has nothing to do with your solicitor.
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