What are the Documents to Collect After Home Loan Closure?

There are an ample number of documents to collect after home loan closure and they are the title deed and sale deed, from the lender. You will also need to get a No Dues Certificate and ensure the property lien is removed at the Registrar’s Office. Finally, you will have to update the Non-Encumbrance Certificate and verify whether your credit score reflects the closure or not.

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What Documents to be Collected From Bank After Home Loan Closure?

The list of documents that you need to collect from the bank after your home loan closure are:

• Original Property Documents: Make sure to collect all original documents like Title Deed, Sale Deed, and Loan Agreement that were held by the bank as collateral.

• No Dues Certificate (NDC): The NOC confirms that the loan has been fully repaid and the lender no longer has any claim on your property so make sure you collect it as soon as you pay your debt fully. 

• Lien Removal Letter: Obtain a letter from the bank stating the lien on the property has been released.

• Updated Non-Encumbrance Certificate: Ensure the bank updates the Non-Encumbrance Certificate, which reflects no outstanding loan on the property.

• Loan Closure Letter: Lastly, collect an official loan closure letter to keep for future reference.

So these are the major documents that you MUST collect from the bank. 

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Hi there, I recently closed my home loan and asked for documents from the lender after the loan closure. So, I can tell you about the documents to collect after home loan closure in detail.

What are the Needed Documents After Closure of Home Loan?

1. Ask for all the original documents you submitted to the loan provider. These documents include the title deed, sale deed, loan agreement and power of attorney. 

2. The No Dues Certificate is one of the documents to collect after home loan closure. This is the document that confirms that you have repaid the loan amount completely and the lender no longer holds legal claims to the property.

3. The Non-Encumbrance Certificate of your property comprises in-depth information regarding the property transactions. This certificate is to be updated after the loan closure. You can do so by visiting the Sub-registrar’s office along with the NDC.

Apart from these, there are some more things you should keep a check on after loan closure. 

• The first is to remove the property lien. The lender has a lien or right to possession of the property, which makes it impossible for you to sell the property till the loan is repaid. So, go to the local registrar’s office for lien removal.

• It will take a month for the lender to share the loan closure confirmation with the credit bureau. So, after this time has passed, check the update of your credit score.

So, this is all about all the documents to be collected after home loan closure. I hope this information helps you.