What fees do I pay when I finish paying off my mortgage?

Short answer: Discharge fee ~$150-$400. Lawyer fee to register discharge. Then you own the house outright.

What this actually means in plain English

When you pay off your mortgage, the bank charges a discharge fee to remove their claim on your property. It is usually $150-$400. Your lawyer also charges to register the discharge. The bank gives you a discharge authority. Your lawyer files it with Land Information New Zealand. Then you own the house free and clear.

Key Facts

Bank discharge fee: $150-$400
Lawyer fee to register discharge: $200-$400
Bank provides discharge authority
Lawyer files with LINZ
Title updated to remove mortgage
Keep discharge documents forever

Example

Bank Discharge Fee: $250

Lawyer Fee: $300

Total Cost: $550

Result: Clean title, no mortgage

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