Vendor to furnish redemption figures
Conveyancing
06/04/2018
It has come to the attention of the Conveyancing Committee that some vendors are refusing to furnish redemption figures to purchasers in advance of completion. Practitioners should note that it is the recommendation of the committee that, prior to completion, the purchaser鈥檚 solicitor should be furnished with a copy of the letter obtained by the vendor鈥檚 solicitor from his/her client鈥檚 lending institution, setting out the figure on receipt of which the lending institution will discharge the vendor鈥檚 mortgage.