Deed Release Fee
One of a number of administration fees charged by mortgage lenders once a mortgage has been repaid to cover the costs of returning the title deeds to you. Also known as a discharge fee.
The fee is charged when you end your mortgage contract before the specified term with your lender. This can happen for one of several reasons. It could be that you have switched to a more competitive deal with another lender when a fixed rate comes to an end, or if you pay off your mortgage some other way, either by over-paying or with a windfall lump sum.