# Charge for releasing title deeds after mortgage paid off



## Homer (18 Dec 2009)

I finished paying off my mortgage with NIB a couple of years ago and when I spoke to them about getting the deeds back, they suggested that I leave the title deeds with them in case I wanted to take out an equity release mortgage at some future date.

I have now decided that this is something I am very unlikely to want to do and contacted the bank today to arrange to get the deeds back.  They tell me it will take a week or so and that there will be a charge of €65 for releasing the mortgage on the property.

Is this type of charge standard practice and is the amount in line with what other banks are charging?

Regards
Homer


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## tillyfloss (18 Dec 2009)

Hi, 
I thought this might interest you, I paid off my mortgage in 2005 and release fee that I paid was £295.00 , however, since then there was the case about the overcharging by the banks which recently went to court and I found some information, can't remember where, that stated that banks were also overcharging for release for deeds etc as 'usually by the ime a client does finish their mortgage  (25years or so) the client would have forgotten what was on the original contract' 
As I am a bit of a hoarder I was able to locate the original which stated that the release fee would be £50.00. I wrote to the building society enclosing a copy of the original contract and asked for the overcharged amount to be repaid and any interest due. Consequently they did pay it back but no apology.. can't have everything I suppose..
To me it seems a fair amount , but it really depends when the mortgage was taken out and what was on the original contract. 
hope this is helpful.


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## sam h (18 Dec 2009)

Bank of Scotland didn't charge us anything earlier this year.  But they did want us to use a solicitor.  We couldn't see a need for one and they could offer a decent explaination (other than it's standard practice).  We suggested they pay the solicitor for us & they rapidly agreed to give us the deeds.

Check what is in your original Mortgage agreement as it should be list is there is a charge.  Seems mad that you pay them €1000's in interest and then they want to slap an extra €65 to release deeds that are now legally yours.


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## Mr. C.J.H. (20 Dec 2009)

Okay, just to clarify here cause there seems to be some confusion here, the fee that the banks refer to as a 'release' fee doesn't actually refer to the  fee charged for actually physically releasing the deeds to the customer, which one of the posters quite rightly points out are yours, rather it refers to the fee charged in respect of the bank sealing the vacate (i.e. the legal mortgage deed). This is essentially the bank's official stamp impressed on the original mortgage deed acknowledging that the mortgage has been repaid in full, which in turn is required by the Land Registry, as although you have repaid your mortgage and the bank have returned your deeds, the title deeds/folio will still actually show the mortgage as not having been repaid because the bank will not register the 'vacate' on the customer's behalf. In other words, getting your deeds back off the bank are only part of what is required, as the customer will have to take the next step of registering the fact with the Land Registry that their mortgage has been repaid.


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## Homer (21 Dec 2009)

Mr. C.J.H. said:


> In other words, getting your deeds back off the bank are only part of what is required, as the customer will have to take the next step of registering the fact with the Land Registry that their mortgage has been repaid.


 
Thanks CJ

Is this something I can do myself or will I have to employ a solicitor to do it?  Is there an online option?

Regards
Homer


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## MOB (21 Dec 2009)

There is now an online\electronic system of registering discharges. This can only be registered by the lending bank.  A protocol has been agreed with the Law Society for how these discharges will be handled when requested\instigated by solicitors.  I expect that customers dealing direct will soon (or may already) be able to have the same facility from a lending bank by writing in and asking for it.

This only applies to titles registered in the Land Registry. ( I think - I will just double check)

http://www.landdirect.ie/eng/Practice_Directions/10a_eDischarges_2009_/#general


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## j26 (22 Dec 2009)

It is Land Registry only.


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## irishpancake (19 Jan 2010)

MOB said:


> There is now an online\electronic system of registering discharges. This can only be registered by the lending bank.  A protocol has been agreed with the Law Society for how these discharges will be handled when requested\instigated by solicitors.  I expect that customers dealing direct will soon (or may already) be able to have the same facility from a lending bank by writing in and asking for it.
> 
> This only applies to titles registered in the Land Registry. ( I think - I will just double check)
> 
> http://www.landdirect.ie/eng/Practice_Directions/10a_eDischarges_2009_/#general



Hi there, just looking into this myself, i.e. sealing vacate on mortgage and registering Discharge with Land Registry.

There is information here relating to eDischarge, which could be pertinent:



> 2. General
> 
> Rule 3 of the Land Registration Rules 2008 [S.I. 326 of 2008 | ] provides that authorised customers may apply in electronic form for cancellation of the entry of a charge.
> Such application is lodged with the PRA through its web portal or such other electronic service delivery channel as may be authorised by the PRA.
> ...



See SI_326_2008 pdf here

So your Bank should be able to Log onto the Land Registry, and register the Discharge of a Vacate on your Mortgage.

UB are charging me €50 to "Seal a vacate on my Mortgage", which was specified in the Mortgage Offer originally.

Called them and they said that this would include the Registration of the Discharge with Land Registry, but I am very dubious, as the person I spoke to was not very sure-footed when made the enquiry.

I will report further, if appropriate.


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## Bronte (20 Jan 2010)

tillyfloss said:


> . I wrote to the building society enclosing a copy of the original contract and asked for the overcharged amount to be repaid and any interest due. Consequently they did pay it back but no apology.. can't have everything I suppose..


 
This is shameful conduct by a lending institution once again.  They knew that they were overcharging, these things don't happen by accident and I'm sure you are not the only one.  I hope you make a complaint to the financial ombudsman and I hope when he receives the complaint he asks the bank to confirm how many customers they have done this to.  

(or try Shane Ross or Joe)


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## asdfg (1 Mar 2011)

*e .discharge*

any one know how long i should have to wait for an e.discharge with r.b.s.They seem to be ignoring my solicitors requests. thank you


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## Buzzmolloy (2 Mar 2011)

PTSB charged me €39 for release in Jan

Buzz


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## asdfg (12 Mar 2011)

thank you buzzmolloy,but how long did you have to wait?Its 8 weeks since the solicitor started looking for them.Apart from asking for them what else can the solicitor do to speed things up?Thanks for any replies


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## Bronte (14 Mar 2011)

You could telephone the mortgage department/deeds section and ask what is the hold up.


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## Buzzmolloy (14 Mar 2011)

The docs were received within 2 weeks of paying the relevant fee. I did this myself & did not involve a solicitor

buzz


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