View Full Version : What action do I need to take now my mortgage is paid off?

03-07-2013, 11:10
i make my last payment on my mortgage this month,any advice on my next step to getting all my deeds ect,my bank manager told me but the language barrier did not help me.

03-07-2013, 12:33
Basically, your bank manager will give you documents to state that you have made your final payment, and your mortgage is complete.
You then take this, with your escritura to the notary, (along with all the usual ID stuff & copies).
The notary will take copies of everything, and send you on your way to wait for a week or so.
You will then receive a phone call from the notary to say your documents are ready for collection.

Re-attend the notary to collect them, and pay the fee, around €105.
Next you go to the Registro De La Propiedad for your district, with your new Escritura from the Notary.
Fill in a form that they give you - name, surname, phone number, NIE number, address of your property, email address for communication, date & sign the declaration, and pay the fee for re- registry, around €83 in my case.
Then wait approx 20 days for a message to collect.
Be aware they only take cash in Los Cristianos! but they do give you a receipt :)

Hope this helps you smigster.

No doubt one of our more experienced responders will give you more accurate advice than I have.

Also, don't be afraid to do it yourself, it really is quite a simple process once you know the basics.