������Ƶ

A Mortgage Release formally ends your legal obligations under a mortgage in Ireland, clearing the debt and removing the lender's claim on your property. When you pay off your mortgage completely, your lender must provide this document to show the loan is settled and the property is now fully yours.

Under Irish property law, this vital document gets registered with the Property Registration Authority (PRA), officially removing the mortgage from your property's title. Banks and solicitors often call this a "discharge" or "satisfaction" of mortgage - it proves you own your home outright and can freely sell or remortgage it without the original lender's involvement.

You need a Mortgage Release when you've fully paid off your Irish mortgage - it's the key document that proves you're now the outright owner. Most commonly, this happens at the end of your mortgage term or when you've made a final lump sum payment to clear the remaining balance.

This document becomes essential if you plan to sell your property, refinance with a different lender, or use your home as collateral for another loan. Your solicitor will request the Mortgage Release from your current lender, and they're legally required to provide it promptly once you've settled all outstanding amounts, including any early repayment fees.

• Standard Mortgage Release: The most common type, used when you've fully repaid your mortgage through regular payments or a lump sum
• E-Release: A digital version accepted by the Property Registration Authority for online registration
• Partial Release: Used when releasing only a portion of mortgaged property, common in land subdivisions
• Cross-Collateral Release: Specifically for properties used to secure multiple loans with the same lender
• Executor's Release: Special variation when dealing with a deceased borrower's mortgage through their estate

• Mortgage Lenders: Banks and financial institutions must provide the Mortgage Release once the loan is fully repaid
• Property Owners: Receive the release as proof of full ownership after paying off their mortgage
• Solicitors: Handle the legal process of obtaining and registering the Mortgage Release with the PRA
• Property Registration Authority: Records the release in Ireland's official property register
• Estate Agents: Need to verify the release exists when helping clients sell mortgage-free properties

• Property Details: Gather the exact property address, folio number, and full legal description from your deed
• Mortgage Information: Collect your mortgage account number, original loan amount, and confirmation of final payment
• Identity Verification: Prepare valid ID and proof of address for all mortgage holders
• Bank Communication: Request the release from your lender once you've confirmed zero balance
• Legal Review: Have your solicitor check the release matches your property records before registration
• Registration Preparation: Get your PRA forms ready and ensure all required signatures are in place

• Property Identification: Full legal description, folio number, and exact address of the mortgaged property
• Lender Details: Complete name and registered address of the lending institution
• Borrower Information: Names and addresses of all mortgage holders as they appear on original deed
• Mortgage Reference: Original mortgage date, registration details, and loan account number
• Release Statement: Clear declaration that the mortgage is fully satisfied and property released from charge
• Execution Block: Authorised signatory section with witness requirements per Irish law
• Registration Details: Space for PRA registration stamps and official markings

A Mortgage Release is often confused with a Release of Mortgage, but they serve different purposes in Irish property law. Here are the key distinctions between these documents:

• Legal Terminology: A Mortgage Release is the formal Irish term used by the Property Registration Authority, while a Release of Mortgage is more commonly used in general banking contexts
• Scope of Release: A Mortgage Release includes specific Irish property registration requirements and PRA-compliant language, while a Release of Mortgage might be more general and need additional documentation for registration
• Documentation Required: A Mortgage Release typically includes all elements needed for immediate PRA registration, whereas a Release of Mortgage might need supplementary forms
• Timing of Use: A Mortgage Release is issued immediately upon final payment, while a Release of Mortgage might be used in partial releases or restructuring situations