Removal of a discharged mortgage from the Land Registry
Once a mortgage has been redeemed, either because it has reached maturity or has been repaid early, it is advisable to remove the discharged mortgage from the Land Registry. These are the steps you need to follow:
- Ask the bank to issue a “notification of discharge”, which should be provided free of charge.
- Decide whether you will perform the following formalities yourself or you will ask the bank to do them for you, in which case it will charge you the related fees and expenses.
- If you carry out the formalities yourself, you need to take the notification of discharge to a notary public and request that the bank’s legal representative is present so that the deed of mortgage redemption is executed. Depending on the location of the notary public’s office that you have chosen, the bank may or may not charge you travel expenses.
- Request and complete the stamp duty form at the regional tax office. This step is compulsory and exempt from payment.
- Take the copy of the tax form, the notification of discharge and the deed to the Land Registry to remove the discharged mortgage. Registration fees depend on the mortgage value. This step is not compulsory, but it is appropriate if you want to sell the property or apply for another loan.