Once we have made our final mortgage payment or repaid our mortgage early, even though we have paid off our debt, the mortgage remains on the Land Registry for twenty more years. The Land Registry should then automatically delete it.
The Land Registry plays an important role. It is a public institution and part of the Ministry of Justice. Among many other things, it registers changes in property ownership, any charges that may be involved, if there is an attachment or any other unusual circumstance regarding the property.
Registration of property ownership in the Land Registry is not mandatory, but it is highly recommended: the public deed provides evidence for third parties that the buyer has acquired the property from the seller.
Knowing how the Property Registry works in relation to mortgages, we have two options when we have completed repayment: doing nothing or removing the mortgage from the Land Registry.
Doing nothing: if we do not plan to sell the property for a long period, we can do nothing, knowing that the Land Registry will automatically remove the mortgage after twenty years.
If we decide to do nothing, our property will continue to be shown as having a mortgage charge, if we want to do anything with it.
Removing the mortgage from the Land Registry: we can cancel the mortgage it in two ways: