Mortgage release

Mortgage release is the legal act by which the bank renounces its mortgage registration, usually after full repayment of the loan or upon sale of the property. In Belgium, the release must be recorded in a notarial deed. Release costs include notary fees, registration rights (set at a fixed amount), and cancellation fees at the Legal Security office. The total cost ranges from EUR 700 to EUR 1,500 depending on the initial loan amount. Release is not mandatory if the loan is simply repaid: the mortgage registration expires automatically after 30 years. It becomes necessary when reselling the property or refinancing with another bank.