Change of mortgage or

But once I have fully repaid the mortgage loan, I no longer need good terms.

But once I have fully paid off the mortgage, I no longer need good terms.

As I understand it: But maybe you need another loan 5 years later and then you could take the land charge from your property and use it as security. If you have the land charge deleted, it would have to be reapplied for, which would then cost more money than just transferring it.

As I understand it: But maybe you will need another loan 5 years later and then you could take the land charge from your property and use it as collateral for that. If you have the land charge removed, it would have to be applied for again, which would then cost more money than just transferring it.

Yes, that makes sense. But then I live rent-free and therefore don't need a loan anymore. I don't need a flashy car worth 60K :)

Thanks for your answers!

Yes, that makes sense. But then I live rent-free and therefore no longer need a loan. I don't need a flashy car worth 60K :)

Thanks for your answers!

The point is that the registered land charge doesn't hurt because it doesn't cost anything and can be reactivated at any time if needed. However, removal alone costs money, so in most cases it is only deleted from the land registers when a transfer of ownership is imminent – then the properties are usually handed over free of encumbrances, and the previous owner usually pays the fees for it.

Before that, no one does it; I still regularly see entries where the amounts are stated in DM. Anyone can figure out how old the entries are.

It's also not intended/recommended for a flashy car – but other things come up, such as renewed road expansion contributions, the children building houses themselves, studying, or whatever ...

Best regards
Dirk Grafe

But if I have fully paid off the mortgage loan, I no longer need good conditions.

you have paid off the loan, but 5 years later you want to redo and finance the roof. so you go to a bank and say that a land charge is registered, which has been paid off (proven by the document given at the end). you get better conditions without additional costs because the bank receives top security.

the land charge only has to be deleted upon sale, because no one wants to buy a land charge :) (you never know what might still be behind it, and the buyer would potentially take on debts). deleting the land charge costs money. anyone who is absolutely sure that they will never need the land charge again and also wants to do something good for their heirs at some point can, of course, have it deleted. it may also be somewhat symbolic, signifying that you are finally done with financing.

Exactly, the symbolic feeling that the property then finally and officially belongs to me, were also my thoughts.

But paying extra for this + the possible option to leave it with the bank speaks against a deregistration, of course, for which I am grateful for your arguments. Well, I have 25 years to think about it :)