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End of mortgage with Santander

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  • End of mortgage with Santander

    Hello,

    I am hoping that somebody will be able to offer me some advice.

    My mother's mortgage ended in Spetember and her mortgage provider have given her 4 extra months to ensure that the full amount is paid or to remortgage the house.

    She has the money to pay off the mortage but i just wanted to check:

    1. Can she just pay the lump sum and not face any early payment charges
    2. Once the money is received do Santender then close the mortgage account and send her the house deeds.
    3. Is there any charges associated with a mortgage account closing?

    Thank you for any advice or assitance that you can provide.

  • #2
    Re: End of mortgage with Santander

    Hi,
    In response to your questions:
    1) This is possible as she is not tied in to a product with an early repayment fee.
    2) Santander will close the mortgage down, but in terms of sending the deeds out, it depends on when the mortgage was taken out. Most lenders don’t hold the deeds and are either with the solicitor or the individual mortgagee. To be certain you will need to check with them direct.
    3) There is a charge of £225 with Santander when you close the mortgage down.

    I hope this helps.
    Ascot Mortgages
    www.ascotmortgages.co.uk

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    • #3
      Re: End of mortgage with Santander

      Dear Joy,

      Thank you so much for your help and for answering my questions.

      This has been a massive worry for myself and my Mother for a number of reason.

      I am just hoping that this Friday I can go to Santander with the full amount and they accept the funds and close the mortgage account.

      Many thanks

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      • #4
        Re: End of mortgage with Santander

        No worries whatsoever! I'm glad I could help If you have any further questions, feel free to contact me at anytime and I'll try my best to help.

        Joy
        Ascot Mortgages
        www.ascotmortgages.co.uk

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