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Usually, a mortgage discharge fee is $50 to $600 at the end of the mortgage. No lender will waive the fee and the only one who can pay the fee is the new owner of the property repaying their mortgage.
Step-by-step process Speak to your lender. Let them know about your intention to discharge your mortgage, and confirm the fees and how long it will take. Contact a broker or conveyancer. Fill in a Discharge Authority form. Your bank registers the discharge of mortgage. The discharge is finalised.
A Discharge of mortgage or charge form must be fully completed and is available on the Transfer of Land Act page at of Land ActMortgage. When a conveyancer or lawyer represents a client, the conveyancer or lawyer is responsible for verifying their clients identity.
The Mortgage Discharge form can be obtained by simply phoning our Contact Centre on 133 464. All applications for credit are subject to INGs credit approval criteria. Fees and charges apply. Details of these and the terms and conditions are available on request.
What are the steps for discharging a mortgage. #1 Notify your lender. #2 Complete and return the Discharge Authority form to the lender. #3 Register your discharge and Certificate of Title at the Land Titles office.
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People also ask

The process for discharging a mortgage is relatively simple and you are not required to sign anything in order for this to be completed. In fact, if you have visited your solicitor recently and they have up to date ID documentation for you, there may be no need for you to even visit the office.
The total cost of processing the discharge of mortgage can be up to $350-1,000, depending on when the property is sold and where its located. The fees youll likely be asked to pay may include: Administration or discharge fee charged by your lender. Any interest or penalty interest due.
A full discharge is when you discharge your property as security and close all loans associated with that property. There are different reasons for discharging your property. This includes after selling your property, wanting to repay and close your home loan or youre refinancing.

ing discharge authority form