Fees for executing a mortgage discharge and removing a mortgage from the land registry

Once you have paid off your mortgage it is a good idea to have it discharged and removed from the land registry. What steps are involved? What can your bank charge you for?

• First of all, you need to ask your bank to issue a notification of discharge, or certificate showing that your mortgage has been repaid in full (‘certificado de deuda cero’). This should be provided free of charge.
• You then need to decide whether you intend to carry out the notarial and registry procedures yourself or if you want to ask your bank to do so for you. Your bank must inform you how much it will charge for this service before proceeding.
• You will need to take the notification of discharge to a notary for execution of the deed. The bank may not charge a fee for signing the document or for travelling to the notary’s office.
• You then need to ask for the stamp duty form (IAJD, in Spanish) at the appropriate regional government office. This is mandatory but is free of charge.
• Finally, you will have to take the tax form, the notification of discharge, and the deed to the Land Registry so that the discharge can be entered on the register. The registry fees will depend on the mortgage value.

In short, your bank will only be entitled to charge you notary and registry cancellation fees if you ask it to carry out these formalities for you, and it must always inform you beforehand. No other fees or charges may be applied.