NatWest mortgage redemption

[sameoldstoryalone]

My mum will shortly be repaying the last bit of her mortgage , which is with NatWest. We are unclear on whether she needs a solicitor for this and Google gives different info.

there is a smallish balance, which she will be paying in full. I understand we request a redemption statement from NatWest, which you can do via the app, and then I understand we can pay the outstanding balance, also via app. Can anybody help with what happens then, with NatWest specifically?

the land registry record should be digital as she only downsized to this property 3 years ago so I don’t think there’s any issues there either.

any advice? Thank you!

I just got my redemption statement and made the last payment. No solicitor needed. This was Nationwide but I’m sure it’ll be the same at Nat West.
once paid we just received a letter or email (I can’t recall which) confirming the mortgage was all paid.

My parents paid their mortgage and no solicitors were required

Is the property in England? I did this recently for my hone in Scotland and while the mortgage is paid off a solicitor is needed to formally remove the standard security. Not sure how it works for English property

Same. No solicitors involved when we paid our mortgage off. We just handed over the money.

Just done this and it’s very easy. Just ensure you know the final amount and transfer the money. In a way it feels counterintuitive as it’s such a milestone moment but it’s straightforward.

Brilliant, just what I needed to know. thanks all!

NatWest tend to keep the deeds while they still have a charge. If they still hold them, you'll need to make sure the papers are returned and stored somewhere safe.

It's been decades since I did mine, but the bank will presumably have registered a charge against the property with the Land Registry, which you need to make sure they'll now remove....

Sign up to property alerts land registry free. Once paid off NatWest will remove their charge. The land registry alert will let you know once the title has been changed. Be aware LR is taking some time for lots of transactions. https://www.gov.uk/guidance/property-alert#sign-up-to-property-alert

@InveterateWineDrinkerarent the deeds digital now? I don’t think you have paper copies anymore if the transaction is fairly recent. And this property was purchased 3 years ago so presume that bits taken care of?

@Lovingbooksthamks, have done this!

Ours is a leasehold new build, purchased in 2017. Nat West definitely have the lease papers.

It was the same with my last house purchased in 2001, also a leasehold, and Royal Bank of Scotland (same group as Nat West) kept all the paperwork. I remortaged in 2009/2010 and they sent everything to me then, while the new bank didn't want it.

Perhaps it’s the difference between leasehold and freehold then? Everyone so far has told me deeds are now digital so paper copies no longer required!

Hi can I ask how you got your redemption statement , and how long it took to get .
we are going to pay our mortgage off in April (when our current deal is up , about £190k . Is it easy to do ? I’m wondering how we pay that much money all at once

we are with nationwide also

@loveev I can’t recall to be honest, it was some time ago. But I do remember that I phoned them and it was all very straightforward from there.

Thanks I will give them a call nearer the time .