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Discharging a mortgage in Ontario

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  • Jan 19th, 2021 11:44 pm
[OP]
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Feb 3, 2005
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Georgetown

Discharging a mortgage in Ontario

I'm looking for some info on how to discharge a mortgage in Ontario. I have paid off a mortgage entirely and paid the discharge fee to the mortgage lender. I was told they would send documentation needed to register the discharge of the mortgage - but nothing has been sent yet. Assuming they finally send this document, what are the next steps? Ideally, I would rather not go through a lawyer and incur more fees - if that is possible.

Surely someone here has traversed this process before? Any tips/guidance is appreciated!
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Oct 4, 2001
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As soon as my parents paid it off, they got a discharge letter from the bank (RBC). That is it. We gave this letter to the lawyer when they sold the house. House was sold and all is well.
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Deal Guru
Jan 25, 2007
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Paris
Tiberius wrote: I'm looking for some info on how to discharge a mortgage in Ontario. I have paid off a mortgage entirely and paid the discharge fee to the mortgage lender. I was told they would send documentation needed to register the discharge of the mortgage - but nothing has been sent yet. Assuming they finally send this document, what are the next steps? Ideally, I would rather not go through a lawyer and incur more fees - if that is possible.

Surely someone here has traversed this process before? Any tips/guidance is appreciated!
Discharge fee should include them filing the papers. I believe they legally must file within 60 days of payoff. Also, congrats!
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Oct 13, 2008
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Durham
Tiberius wrote: I'm looking for some info on how to discharge a mortgage in Ontario. I have paid off a mortgage entirely and paid the discharge fee to the mortgage lender. I was told they would send documentation needed to register the discharge of the mortgage - but nothing has been sent yet. Assuming they finally send this document, what are the next steps? Ideally, I would rather not go through a lawyer and incur more fees - if that is possible.

Surely someone here has traversed this process before? Any tips/guidance is appreciated!
Your bank (assuming that is where you got your mortgage at) would discharge.

The mortgage department is responsible to discharge once the mortgage is paid in full within 3 months.

If it has not been done by then .... approach the Branch Manager of your Bank.

And there is NO FEES ASSOCIATED WITH THE DISCHARGE because the bank is doing it.
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[OP]
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Feb 3, 2005
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Georgetown
Thanks for the answers everyone - the mortgage was with MCAP.

Sites like this make it sound like more steps are required: https://satlaw.ca/a-guide-to-the-ins-an ... n-ontario/

I do have a Payout statement from MCAP that lists their discharge fee ($380) and a "government charge for discharge" fee ($77.31). That second charge makes me believe they did file the discharge and hopefully there is nothing for me to do. I googled that in Ontario there is a $75 fee to remove a mortgage lenders charge from a mortgage... which kinda aligns with that 77.31 fee.
Deal Addict
Apr 26, 2003
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GTA
Congrats on being mortgage free. I was once that but now we have a new one for the new house. It's amazing how much money you can save when you don't have a mortgage.
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Nov 2, 2005
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WFH
hammer wrote: As soon as my parents paid it off, they got a discharge letter from the bank (RBC). That is it....
Same here except it wasn't. A few years later I went to secure another loan on my property it turns out RBC had not discharged the mortgage despite me having the letter to say it was.
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Mar 3, 2018
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Contact your lender's manager and request that your fee be returned for non performance of a paid service. This is what I had to do to get the bank to process my discharge.
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Oct 2, 2018
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Timely topic, we have 15 months to go on our mortgage so learning something new here.

I assume once the last mortgage payment is made our bank will process the discharge paperwork....do we have to pay any fee?

Once you get the discharge letter anything else to do other than having a mortgage burning party to celebrate...
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Jun 12, 2008
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Ripley
Ballroomblitz1 wrote: Timely topic, we have 15 months to go on our mortgage so learning something new here.

I assume once the last mortgage payment is made our bank will process the discharge paperwork....do we have to pay any fee?

Once you get the discharge letter anything else to do other than having a mortgage burning party to celebrate...
bank-mortgage-discharge-documents-2438958/
Deal Expert
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Jun 9, 2003
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Markham, ON
Give notice to your insurance...I got a check back for $30 from them also

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