For over 10 years, our team has helped hundreds of BC homeowners clear their property titles. We know the specific requirements of every major lender and the Land Title Office and Survey Authority. This experience makes us experts when you need a discharge mortgage in BC.
We know how to avoid common delays that can frustrate the process. Call us at +1 (604) 591-3590 to put our experience to work for you.
When Do You Need to Discharge a Mortgage?
There are a few common times when you will need to discharge your mortgage. We can help you in any of these situations.
- You’ve Paid Off Your Mortgage: This is the final step to owning your home completely. It removes the bank’s name from your property title for good.
- You’re Selling Your Property: Before you can transfer the ownership to a new buyer, the title to your property must be clear of your old mortgage.
- You’re Refinancing with a New Lender: Your old lender’s mortgage must be discharged before your new mortgage can be registered. This is a good time to use a mortgage payment calculator to see how your new payments will look.
What’s Included in Our Full-Service Mortgage Discharge
At Asim Ali, we manage every single detail of the discharge process from start to finish.
Lender Payout Coordination
We talk directly to your bank or credit union to get the official mortgage payout statement. This ensures all the final numbers are correct and saves you from waiting on hold with the bank.
Meticulous Document Preparation
Our team carefully prepares all the necessary legal discharge documents. We make sure every form is filled out perfectly to meet BC’s strict rules, preventing any mistakes that could cause delays.
Legal & Filing Management
We coordinate with trusted lawyers and notaries to handle the official submission of your documents. In British Columbia, the discharge must be filed electronically with the Land Title Office and Survey Authority by a legal professional. We manage the entire mortgage discharge process to make sure it’s handled correctly and meets all provincial legal standards, guaranteeing your title is cleared without issue.
Final Title Verification
Once everything is done, we will give you official proof of mortgage discharge. We also double-check that the charge has been removed from your property title, so you have confirmation that the home is truly yours.
Our team can provide expert guidance on all our mortgage services to help you decide what to do next after your discharge.
Finalize Your Homeownership Today
Why Choose Asim Ali for Your Mortgage Discharge?
Discharging a mortgage is more than just filling out forms. Here’s why homeowners in BC trust us to get it done right:
Decades of BC Mortgage Experience
With over a decade of dedicated experience, we know the system of BC Land Title Office and Survey Authority inside and out. Our expertise covers all types of property financing, from residential homes to services as a commercial mortgage broker, so we understand how a discharge fits into your larger financial picture.
A Hassle-Free Process
We save you time and stress by handling all communication with banks and lawyers. We support clients at every stage, from figuring out what mortgage they can afford for the first time to handling the final discharge.
Transparent Communication
We provide a clear breakdown of the cost to discharge the mortgage. This amount is primarily composed of two parts: the lender’s specific mortgage discharge fee, which often ranges from $0 to over $350, and the associated legal fees for filing the documents correctly.
What Our Clients Say
Ready to Clear Your Title? Contact Us Today
You’ve worked hard to pay for your property. Let us handle the final step to make it officially yours. Clearing your title can even open up new opportunities, like securing financing for a business in BC.
Let our expert team handle the entire process to discharge a mortgage in BC for you.
Frequently Asked Questions (FAQ)
Here are a few common questions we get about discharging a mortgage.
How long does it take to discharge a mortgage?
The timeline can vary. Typically, it is between a few days and a few weeks, depending on how quickly your lender processes the request.
Can I discharge the mortgage myself?
While you can technically do it yourself, the process is very complex and involves legal documents. A small mistake on a form can lead to major delays or legal issues, so we always recommend professional help.
What happens if I don’t discharge my mortgage after paying it off?
The lender’s charge will remain on your property title. This can cause serious problems if you try to sell your home or get another loan, like a line of credit, in the future.
Author Bio
Asim Ali is a Principal Mortgage Broker with over a decade of experience helping BC residents navigate every stage of their property journey. He is an expert at simplifying complex financial processes, ensuring his clients feel confident and secure.