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Mortgage redemption
shahan786
Posts: 4 Newbie
Hi guys, I'm looking to settle my mortgage. The bank are insisting that I appoint a solictor who will then request a mortgage redemption statement and will deal with the process on my behalf.
Is this a legal requirement? I am not looking to sell the house just looking to settle the finance on it by using my savings. As far as I can see all it involves is me receiving the redemption statement transferring the funds by the agreed date and then the bank removes its charge from the property with land registry?
Isit a legal requirement for me to appoint a solictor for this process? Iv had a read of the banks t&c and found no mention of a solictor being required to settle the mortgage. Thanks in advance.
Is this a legal requirement? I am not looking to sell the house just looking to settle the finance on it by using my savings. As far as I can see all it involves is me receiving the redemption statement transferring the funds by the agreed date and then the bank removes its charge from the property with land registry?
Isit a legal requirement for me to appoint a solictor for this process? Iv had a read of the banks t&c and found no mention of a solictor being required to settle the mortgage. Thanks in advance.
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