Your home is perhaps your most valuable asset, and if you’re fortunate enough to have paid-off your mortgage, or if you’re thinking of putting a loved one’s name on your title deeds, there are some really important things you need to know.

Some people think that repaying your mortgage makes the bank disappear from your title deeds, that’s not true.  Paying the final instalment of your mortgage doesn’t end your ties to your bank until you formally remove the mortgage. Your bank will remain on your title deeds as a party with a right over your property until they are instructed to be removed.

If you decide to sell your house at any point in the future, you will need to have the mortgage removed.  No-one interested in buying your home will go ahead with the purchase unless you have a “clean title” meaning your title deeds show no other party having a right over your home.

Should the worse happen and your home is being passed onto a friend or relative in your Will and your mortgage has not been discharged this will pass onto them to deal with prior to being able to make any decisions on selling your property.

Discharge your mortgage with Thompsons

Discharging your mortgage is a legal process and requires instructing a solicitor to prepare a “discharge” on your behalf.  This is a straightforward procedure and our lawyers will ensure that your mortgage is removed as quickly as possible with the minimum fuss.  All we require from you is a copy of your title deeds and your permission to speak with your mortgage lender and we will do the rest.

We can make your home your own, start the process of removing your lender from your title deeds by calling 0800 0891 331 and speak to our private client solicitors.