Do you have questions about your redemption statement?
This article shows some of the most frequently asked questions about what a redemption statement is, early redemption penalties and timescales.
What is a redemption statement?
A redemption statement is provided by your current lender and will tell us how much you owe on your existing mortgage.
Do I need to request/provide one?
No you can leave that to us. We’ll request this from your existing lender.
How long will it take for you to get one?
Each lender has their own turnaround times for producing statements.
When does my early redemption penalty/charge expire?
If this applies to you, this can be found in the terms and conditions of your existing mortgage or can be obtained from your existing lender.
Can you chase my statement?
If we’ve not received the statement, we’ll chase the existing lender for it at the right time of the process.
My statement shows a higher amount than expected, why?
If you feel this is higher than expected, please contact your existing lender to clarify.
Please note: If you have specified a completion date on your questionnaire, we will not complete your Remortgage before this date. We may request a redemption statement at the beginning of your Remortgage for information, which could show early redemption penalties. If you would like us to complete after these penalties have expired, we will order a new redemption statement before completion.
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