Our Real Estate offers you this mortage cancellation service.
When we finished paying off a mortgage, is not mandatory but advisable to perform some steps.
You have completed your relationship with the bank, but remember that the mortgage is registered in the Land Registry, and it keeps there until you cancel it.
The 21 years since the last payment should have been made (according to the registry of the mortgage), the Land Registry assumed the mortage is finished . In this case with a mere written request to the Registry, you cancel the registration of the mortgage.
But over the years and the twists and turns of life, who does not tell you that one day you’re going to sell it and loads appear in the simple note? What if you ask for a loan? It will be refused because of the mortgage burden.
To cancell the mortgage in the register, we can call a bussiness agent. We can order it at the bank, but they charge for it more than they should. The steps in the cancellation of the mortgage are:
- Request a certificate of zero balance bank debt. Some banks charge for issuing this document, but should do so freely.
- We´ll go with that document and the house deep to a notary. The notary will write us a cancellation deed. This writing must be signed by an authorized officer of the bank (free). The notary will charge a minimum of 90 euros.
- File the 600 Form, it´s a mandatory document, but exempt from payment. This means that we have to present the document without paying anything (maybe something for the paper).
- Now with all these documents (the bank, the notary and the 600 form) we will go to the Land Registry. Here we will charge, and this depend of the amount of the mortgage.
After a few days, I suggest you ask a simple note in which we can ensure that our property is free of loans and all the mortgage is paid. This procedure can be done in person or online. The cost is very small, between 4 and 9 euros.
You can see more details here.