My solicitor has my deeds at the moment because I'm selling, but I'm considering paying off the balance early because the interest is racking up quickly these days due to it being an ECB tracker. Can I do this myself with a bank transfer to Pepper directly, or does it have to be done via solicitors since he has them on accountable trust? Thanks!
Can I pay off my mortgage myself or does it have be done via solicitor?
- Thread starter MelF
- Start date
Brendan Burgess
Founder
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You can pay Pepper directly.
It might take some time to get an exact redemption figure. But that doesn't matter. If you pay off what you think you owe, you will stop most of the interest accruing.
Brendan
It might take some time to get an exact redemption figure. But that doesn't matter. If you pay off what you think you owe, you will stop most of the interest accruing.
Brendan
Great, thanks Brendan. Will they send some kind of finalised confirmation doc to me or the solicitor after it's paid to allow him release the deeds to the new buyer (or to eventually release them back to me if maybe house sale doesn't proceed as planned)?
Brendan Burgess
Founder
- Messages
- 52,192
Hi Mel
I wouldn't know the paperwork, but your solicitor should.
Brendan
I wouldn't know the paperwork, but your solicitor should.
Brendan
Pepper are slow to do anything.
But process is:
1. Ask for redemption figures from them.
2. Pay them the quoted figure or , if they are slow to provide, pay what you believe is due.
3. Ask for the Mortgage Deed to have a Release/Receipt endorsed on the Deed so that evidence of discharge can be registered in the Registry of Deeds (if unregistered title) or an e-Discharge filed in the PRAI if title is registered.
For completeness, OP should ( I personally think) do all this through the solicitor.
mf
But process is:
1. Ask for redemption figures from them.
2. Pay them the quoted figure or , if they are slow to provide, pay what you believe is due.
3. Ask for the Mortgage Deed to have a Release/Receipt endorsed on the Deed so that evidence of discharge can be registered in the Registry of Deeds (if unregistered title) or an e-Discharge filed in the PRAI if title is registered.
For completeness, OP should ( I personally think) do all this through the solicitor.
mf