What happens / What are the steps after mortgage cleared

T

TTI

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Hi,

What are the steps after a mortgage is fully cleared on a mortgage with AIB? I would ideally like to manage the steps without the additional cost of a solicitor if it brings limited benefit.

Thanks,
TTI
 
Two years after we cleared our AIB mortgage, I contacted AIB Home Loans asking them to return the deeds of the house and I received them some weeks later in the post. No solicitor involved.
 
Contact your bank asking for the final redemption amount and seek to speak with the team in the mortgage division dealing with mortgage redemptions. They will talk you through it from there. Absolutely no need for a solicitor other than you want to arrange for them to hold onto the deeds for you.
 
I would think you need a solicitor to discharge the bank’s legal charge on the property?
The bank is not going to do this for you.
 
No need for solicitor. As tallpaul advises, request redemption amount, make payment and bank should inform you when to expect deeds, usually posted.
 
There is usually a small fee for the vacate fee, used to be 50 quid, then changed to 63.50 euro. They will probably either post you out the deeds or send them to a branch for collection. No need for solicitor.
 
We paid ours off this year with UB. We paid the redemption figure in branch, got confirmation of receipt and then got the deeds back in post. Had to send confirmation of receipt of deeds to UB. I read afterwards on a thread here that they may not remove banks charge but they had. I checked via land registry - paid €4 for a copy of folio to be emailed to me and it showed that the charge had been removed. It was very straight forward and a delight to see that we now own our own home!
 
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