Two things need to be arranged when refinancing your mortgage:
- you need a new mortgage deed. This deed sets out your new loan arrangements with the bank. The documents needed to draw up the mortgage deed come from the bank where you took out the loan.
- Your old mortgage must be removed from the mortgages register of the Land Registry (cancellation). This is done with a cancellation power of attorney from the bank. The bank will only give this power of attorney if they are certain that the mortgage loan will be or has been fully repaid. The amount to be repaid is stated in the repayment note. The official repayment note is requested by the notary.
If you are going to take out an (additional) mortgage loan, this will require an (additional) mortgage deed. Your current bank will have to give its consent for the establishment of the additional mortgage.
We will make sure that the process of refinancing goes as smoothly as possible for you. For more information or any questions, please contact us (by telephone).
If your mortgage is fully repaid, you may no longer owe the bank, but the mortgage entry in the Mortgage Register of the Land Register is not automatically cancelled. The deregistration of your mortgage is done by means of a deed of cancellation.
Cancelling a mortgage is a strictly administrative process. There is no need to come to the office for this.
For more information or any questions, please contact us (by telephone).