What Needs to Be Done to Remove a Mortgage from the Land Registry?
What Needs to Be Done to Remove a Mortgage from the Land Registry?
For properties purchased with a housing loan, the bank places a mortgage annotation on the title deed to secure the repayment of the loan. While the mortgage annotation indicates the bank's right over the property, once the mortgaged loan debt is paid off, obtaining a "debt-free" letter from the bank and going to the land registry office will suffice. Upon presenting the "debt-free" letter to the land registry office, they are obligated to remove the mortgage annotation from your title deed.
How to Obtain a "Debt-Free" Letter from the Bank?
Visiting the branch of the bank from which you took out the loan will be sufficient to obtain this letter. However, most bank branches charge a fee for this letter, and consumers have the right to object to the "debt-free" letter fee in consumer courts.
