Which step is involved in discharge of the mortgage on completion?

• A. Transfer the property deeds
• B. Order a re-survey
• C. Pay redemption money on completion
• D. Register a new mortgage

Answer: (C)

Discharging a mortgage on completion is achieved by paying the redemption money to the lender. At completion, the buyer’s funds include the amount needed to repay the existing loan secured over the property. Once the lender receives that redemption sum, they issue a discharge (release) of the mortgage, confirming the loan is paid off and that the security over the property is released. After that, the title can be updated to remove the mortgage from the register, leaving the buyer with a clear title.

The other actions aren’t about releasing the loan: transferring the deeds is part of completing the purchase and handing over ownership, not clearing the lender’s security; a re-survey has no role in discharging a mortgage; and registering a new mortgage would create a new charge rather than remove the existing one.