Unless you need the title immediately I wouldn’t worry a great deal, the Bank has to wear the costs in replacing it for you. A simple title search will still show that you are the proprietors of the property and also the Bank’s mortgage no. persue your request to discharge mortgage it shouldn’t take too much longer than if they had the title.
However, if they somehow haven’t registered your mortgage at purchase then it could take some time. I suggest you ask the Bank to provide you with a copy of the title search, plan & mortgage. This can be easily obtained through a site search where I worked that would cost around $13.00, I used to work in this position within a bank, the branches can’t often carry out this request however most of them have business segment contacts to enable you to at least get these copies. Fees usually involved with discharging a mortgage should be on your contract. However if you choose for the Bank to register the discharge with the Titles Office there are extra fees involved, quicker if you do it yourself or through a conveyancer or solicitor. Hope this helps.

Hi Stephen,

There isn’t a Melbourne suburb that you could purchase at $100K the cheapest is Laverton at around 130K upwards – BUT BE WARNED! – there is also around 200+ properties for offer on rent.

Think wider than Melbourne and even though I’ve been just a few hours late on making a successful offer It will happen…

Good Luck, Regards and Best Wishes

Hi Slum Lord,

I’m a newbie and this opportunity could not have come at a better time. I have one negative geared property (for obvious tax reasons) but has had significant capital gain in the past 2 years. Will seek to gain some finance from that. I’ve just read the goal setting piece in Steve’s book and will hopefully be up and running once all is in place. Good Luck to us all.

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