For redemption of an existing mortgage on completion, what document would the buyer's lawyer require and what must be checked before providing it?

• A. A copy of the mortgage deed only.
• B. A completion statement from the seller.
• C. A written undertaking in TA13 (or Requisitions on Title) to discharge the mortgage, together with a redemption statement from the mortgagee and confirmation of funds.
• D. A letter from the buyer's bank.

Answer: (C)

The essential idea is to secure a proper discharge of the existing mortgage on completion. To achieve this, the buyer’s solicitor requires a written undertaking to discharge the mortgage, typically provided under TA13 (or via Requisitions on Title), backed by a redemption statement from the mortgagee and confirmation that funds are available to cover the discharge.

The undertaking is a formal promise from the seller’s solicitor to release the mortgage on completion. The redemption statement from the lender shows exactly how much must be paid to discharge the loan at that date, including any interest, charges, and fees. Confirmation of funds ensures the buyer has the money ready to meet the redemption and cover associated costs, so the mortgage can be cleared when the transfer completes.

Before providing the undertaking, the solicitor checks that the redemption figure is current and aligns with the completion date, that the mortgage is enforceable and the lender is prepared to discharge on completion, and that there are no other encumbrances or sums due that could block discharge. The funds must be available and capable of being applied to the redemption promptly.

A copy of the mortgage deed alone wouldn’t discharge the loan, a completion statement from the seller doesn’t bind the lender to release the charge, and a letter from the buyer’s bank confirms funds but doesn’t secure the legal discharge. The combination of the undertaking, the redemption statement, and funds ensures the mortgage is discharged and title can pass unencumbered.