How do I get my mortgage discharged?

Step-by-step process

1. Speak to your lender. Let them know about your intention to discharge your mortgage, and confirm the fees and how long it will take.
2. Contact a broker or conveyancer.
3. Fill in a Discharge Authority form.
4. Your bank registers the discharge of mortgage.
5. The discharge is finalised.

What does it mean when a mortgage is discharged?

When your mortgage is paid off, a mortgage discharge should be recorded with the Registry of Deeds to clear your property’s title. A discharge is a document (usually one page) issued by the lender, usually with a title such as “Discharge of Mortgage” or “Satisfaction of Mortgage.”

How much does it cost to discharge a mortgage NAB?

$350
The following Cash Advance fees apply to all credit card accounts, except NAB Visa One Fee-Free….

Mortgage Discharge Fee Includes preparation of discharge, attending settlement and lodgement of documents where applicable	$350
Production of documents To permit registration by other parties	$150

Who signs a discharge of mortgage?

Execution: by the mortgagee. A power of attorney must be registered. The mortgagor does not have to sign. A solicitor cannot sign on behalf of the mortgagee.

How long does it take for bank to release deeds?

If you have a mortgage it can take about 3-4 weeks for the Bank to send the deeds to your Solicitor and then several more weeks to get the remaining necessary paperwork. Many buyers will not wait around that long and may move on to a different property if they do not receive contracts very soon after they agree a deal.

What is NAB mortgage discharge fee?

Can banks charge a discharge fee?

Discharge fees vary from $150 to $400 and this is what you’ll have to pay to get a hold of your title deeds. Lenders can also charge what they refer to as ‘early discharge’ or ‘early termination fees’.

How do I record my mortgage discharge in Massachusetts?

You may also mail the original Discharge of Mortgage to the Registry for recording. Please include a check for $105.00 made payable to the Commonwealth of Massachusetts for the recording fee and enclose a self-addressed stamped envelope to the Worcester Registry of Deeds, 90 Front Street, Worcester, MA 01608.

How do I know if my mortgage is discharged?

State property records will show whether your lien is released. You can find information on property records by contacting your local Secretary of State or county recorder of deeds. After you pay off your mortgage, your lender should also return the original note to you.

Do I need a solicitor to pay off my mortgage?

Absolutely not. The process for discharging a mortgage is relatively simple and you are not required to sign anything in order for this to be completed. In fact, if you have visited your solicitor recently and they have up to date ID documentation for you, there may be no need for you to even visit the office.