Buying or selling your home is one of the most important decisions you can make in your life. That is why before deciding, it is necessary to inform ourselves of all the necessary steps and options we have. Having a mortgage, for example, does not have to be an impediment to moving house as long as you know what to do, as there are several options for selling your home with a mortgage.

The first is the subrogation of mortgage, which is based on the mortgage you applied for changing its holder and being absorbed by the new tenant. This even allows the new owner of the property to renegotiate various conditions of the mortgage that are not favourable to him/her.

However, this option is not easy, as to get it we need the approval of the bank, who will have the final say in the whole process.

But what happens if our buyer is not interested in the conditions of the mortgage to which he is trying to subrogate or the bank does not agree to negotiate with us? There is another way, which is the cancellation of the mortgage at the time of purchase. To do this, we will have to pay our bank the remainder of the mortgage.

If none of these options convinces us, there is another option, which consists of withholding from the price the amount owed on the mortgage in order to pay it to the bank and be able to cancel it.

Either way, whenever a cancellation of the mortgage is carried out, it is necessary to execute the public deed of payment and cancellation letter from the Bank, in addition to the registration of the cancellation of the mortgage in the Land Registry.