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Scotland Only - solicitors' fees for mortgage redemption

Scotland Only - solicitors' fees for mortgage redemption

This is a discussion on Scotland Only - solicitors' fees for mortgage redemption within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; I'm in the process of formally closing-out my now-fully-paid mortgage ; I live in Scotland which means I'm required to ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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11-29-2007, 12:07 PM

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Scotland Only - solicitors' fees for mortgage redemption

I'm in the process of formally closing-out my now-fully-paid mortgage; I live in Scotland which means I'm required to use a solicitor to do the final discharge of the security on the property (the bank can't just post me the deeds, ...

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fees, mortgage, redemption, scotland, solicitors'

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