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Discharge of Securities

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When there is a mortgage in place on a property your lender will normally hold your Title Deeds as ‘security’ against any future payment defaults or failure to comply with your mortgage conditions – it gives them collateral and the ability to repossess your property. However, once you are in the fortunate position of having paid your mortgage off in full then you should be advised by your lender you have the ability to ‘Discharge the Security’.

The process

This is the legal process of obtaining your deeds back from the lender for your safe keeping and drafting a deed of discharge for the lender to sign, stating they have given up their security over your property. Once this has been received back we then register this with the Land Register of Scotland. Once updated it shows that there is no longer a mortgage on the particular property and that you have free title to your home.

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Kirkcaldy: 01592 204774

Dunfermline: 01383 738000

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