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At the last hurdle!
Skaty87
Posts: 4 Newbie
Hey I’m new to the forum, I’m a first time buyer!
We are almost ready to exchange contracts the solicitor wanted to do it early this week but now she’s saying the seller has to wait for their redemption statement to come?
I’ve never done this before but is this normal at this stage it seems like something they should have already requested at this point should I be worried?
We are almost ready to exchange contracts the solicitor wanted to do it early this week but now she’s saying the seller has to wait for their redemption statement to come?
I’ve never done this before but is this normal at this stage it seems like something they should have already requested at this point should I be worried?
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Comments
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It needs to be up to date, so they can't request it too early. Doesn't normally take long to arrive. You can be worried if you like but it would be a bit daft!0
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Ahh right just thought I was ask it’s been all too smooth for me 😂 and I home in on negatives as it’s just the way I am! But thank you I just didn’t know much about it until my solicitor brought it up!
Thank you!0 -
The redemption statement is how much money their mortgage lender need to be paid in order to remove the charge from the title and allow the transfer to go through.
So, yes, it does need to be current and present.0 -
also at this stage too haha, also have to wait for my buyers help to buy isa to do something too.0
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