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How does it work when I instruct a solicitor to discharge the security?:

How does it work when I instruct a solicitor to discharge the security?:

  • Your mortgage lender writes to you to say that your mortgage has been paid off
  • You instruct McEwan Fraser Legal to prepare an application to discharge the standard security
  • McEwan Fraser Legal will check your Title is on the land register or the sasine register
  • McEwan Fraser must ensure that the property transaction and deed meets the appropriate legal requirements and forward the completed paperwork to your Lender
  • Your lender signs the discharge, confirming that you've paid your mortgage in full, and returns it to your solicitor at McEwan Fraser Legal
  • McEwan Fraser Legal sends the signed discharge to the Registers of Scotland, along with the necessary application form and fee
  • The Registers of Scotland checks the accuracy of the application and then update the relevant register, removing your standard security
  • The Registers of Scotland tell us when you standard security has been discharged
  • We then inform you that your mortgage security has been fully discharged
What happens once you have paid off your mortgage?

What happens once you have paid off your mortgage?

The security can be cleared from the Registers of Scotland. This is done by discharging your standard security.

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How long does discharging security take?

How long does discharging security take?

Please allow up to 6 weeks but we can expedite the process it the matter is urgent.

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What happens if I don’t discharge the standard security?

What happens if I don’t discharge the standard security?

You won’t be able to sell your property or transfer the title on your property until you get your standard security removed. You might not get a loan if a security is still showing on your property.

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What happens when you've paid off your mortgage in full?

What happens when you've paid off your mortgage in full?

You can arrange for McEwan Fraser Legal to have your standard security discharged and removed the charge on your property.

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What is meant by a standard security?

What is meant by a standard security?

When you borrow money the lender puts a legal document called charge on your property via the Registers of Scotland to alert any other lenders or purchasers of your property that there is still security on your property

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Why do lenders register a standard security when you take out a loan to buy a property?

Why do lenders register a standard security when you take out a loan to buy a property?

The lender will want to ensure they can get their money back if you encounter problems in repaying the loan.

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What powers does a lender have with a standard security?

What powers does a lender have with a standard security?

It allows the lender to take control of the property should you fail to meet your obligations under the loan. This allows the bank to sell your property.

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What do I do next?

What do I do next?

Give us a call or complete the enquiry form on this page and we will start the process for you.

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Are you discharging a mortgage security?