Discharge of Security

When you have finished repaying your mortgage, you might think that your relationship with your bank or lender automatically ends – but this is not the case. When you are still in the process of making repayments, your lender will be listed on the title deeds of your property. Once you have paid the final instalment, your ties with them will not end unless you take formal steps to formally remove the mortgage. This is where the specialist conveyancing solicitors at Macnairs + Wilson can help. Contact us today.

Property & Conveyancing Lawyers Paisley, Renfrewshire & Glasgow, Scotland

Your title to your home is registered in the Registers of Scotland. If you took out a loan to purchase your property, a mortgage deed will be attached to the title – this is called a Standard Security. In order for you to have a clear to the property (i.e. to show that you are the rightful owner and that there is no longer a mortgage in place), a deed called a Discharge must be prepared. This will remove the mortgage attached to your property and give you clear title.

Discharging a mortgage is a legal process, and you will need to instruct a solicitor to prepare the Discharge on your behalf. A property solicitor will recover the title deeds from your lender, enabling them to draw up the Discharge which will then be sent to the lender for execution. The lender then signs or seals the deed – this is a formal receipt which confirms your mortgage has been paid off and that you are not required to pay further sums. The lender will then return the deeds to your solicitor.

Once your solicitor has received the executed Discharge, it will be registered with the Registers of Scotland. This has the effect of removing the Standard Security over your property with the Land Register's records then showing that there is no mortgage over your home.

Free Storage of Title Deeds

Many lenders will offer to store the title deeds to your property in exchange for an annual fee. At Macnairs + Wilson, we provide a free storage service for clients, ensuring that your title deeds are kept safe and preventing them from being misplaced at home.

Contact our Conveyancing Solicitors in Paisley & Glasgow, Scotland

At Macnairs + Wilson, we pride ourselves on our reputation for providing a service that is both professional and personal. We are a modern law firm based in Glasgow and Paisley, offering a broad range of legal services for individuals and families throughout Glasgow and Renfrewshire. We combine an innovative, forward-thinking approach with traditional values. Whatever your requirements, one of our friendly and approachable solicitors will be available to meet with you and discuss matters in detail, explaining your options clearly and without resorting to legal jargon.

Speak to a member of our team at our Paisley branch by calling 0141 887 5181 for our Paisley branch or 0141 551 8185 for our Glasgow branch. Alternatively, click here to get in touch.

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Paisley: 0141 887 5181

Glasgow: 0141 551 8185