Mortgage redemption statements

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. 

Last updated: 1 February 2000 

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Guidance