From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

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Mortgage redemption statements

Last updated: 1 Feb 2000

This guidance is for: lenders and conveyancers

Problems relating to mortgage redemption statements have caused difficulties for lenders and solicitors (this expression to include licensed conveyancers) for a number of years. In 1985 the Building Societies Association (BSA) and the Law Society issued detailed advice to their respective members on this subject because of the difficulties which were apparent at that time.

This guidance refers to some of the circumstances which can produce errors and problems, and the consequences which this can have for the solicitor in the conveyancing transaction. It also suggests certain practical measures designed to reduce problems in this area.

Downloads

  1. Mortgage redemption statements (PDF 106KB)