What happens when you pay off your mortgage?

[MartinLewisIsAmazing]

I suppose I'm asking whether I need to do anything in particular - thanks!

Check any charge has been removed from Land Registry and sign up for the alert service too.

https://www.gov.uk/guidance/property-alert

I love this , our mortgage ends soon! 😄

We kept £25 on ours to avoid the land registry issue and having to store our deeds, costs us a couple of pounds a year.

@HermioneWeasley Most peoples' deeds are registered title now so there's no deeds to store. It's all held at the Labd Registry.

We already had the deeds to the property when we bought it, they were in an envelope at the estate agent and handed over with the keys on completion.

Theres no 'holding of deeds' these days as such

In our case, DH got made redundant before we'd had a chance to celebrate.

I hope everything improved for you since then @IbizaToTheNorfolkBroads.

I have a bundle of lovely old papers, going back to hand drawn maps from.when the land was sold in the early 30's in order to build the houses on part of a large Victorian estate. All the sale prices since then. It's a great bit of history. Nothing in particular to keep when we paid it off. All electronic.

What an anti climax ! After all those years it feels like there should be some sort of acknowledgment! A small cake or maybe balloons. Well done for getting there though I yearn for the day

@Crucible

I have similar dating back to 1910 when the land was sold for housing. The first document still has the wax seal. The house was first sold for £250 in 1912. I have the paperwork for all subsequent sales or transfers of ownership. The house stayed with the original owner until just after the war and then stayed with the next family until the 1970s so its has very few owners in its history.
really fascinating to be able to trace the history of the house. One day Id like to find out more about the families

@Ted27 ditto, would be interesting to know more. It's one of my favourite bundles of paper in a house that is full of far too much of it..

I'm glad I still got the deeds in original form. They made interesting reading. Also a feeling of relief was nice but no fireworks or bursts of " congratulations !"

Our deeds were sent a couple of years before we paid ours off, no idea why, but I think they are stored electronically somewhere as well now.

All we got was a one line letter. Total non event.

Nothing, it's a huge anticlimax. But you are now at risk of having your house stolen as the building society no longer have a charge on it.

@Keeprejoining

And how can my house be stolen?

It's a complex theft, so I've posted a link to a bbc report

https://www.bbc.com/news/uk-england-essex-59069662.amp

We've signed up for property alerts with the Land Registry 🙂.

Sorry @Jasmin1971, I replied to the wrong post!

We cleared ours when we sold our last house and used the rest of the proceeds to build this one,so are mortgage free.
We don't have any deeds,as there aren't any.
The land we built it on wasn't even registered with the Land Registry because when my family bought it,70 years ago,the Land Registry didn't exist. Luckily we'd still got the original bill of sale and solicitor's letter to prove that we owned it.

What a lovely thread. Can’t wait until it’s my turn.
I think I would have to take the family out for an amazing night out in month one of no mortgage to pay.
Congratulations!

Thanks @Mimrr - I didn't say already, but I don't think we're in our forever home, so it's probably just some kind of interlude.

Very little. Paid off less than 2yrs ago. Literally paid it off and had to send in some paperwork. They confirmed by letter it had been paid and they had notified land registry to get the hold off that they have (or whatever you call it).

Can you tell me what happens in Scotland?

Check your house insurance if you said it was mortgaged and no it isn’t declare the change I got a small refund. Sign up to land registry alerts to protect the house from future fraud