Fleet Mortgages redemption figures, and discharging the charge
Most of the claims risk on a redemption is in reading the statement rather than in obtaining it. This is what to read it for, and what to ask when it does not say.
- Minimum notice
- 5 working days
- Handbook reference
- Part 2 · 17.2.1a/b
- Fleet Mortgages Part 2 last changed
- 2026
- Years with a change
- 10 of the 10 to 2026
- Jurisdiction
- England & Wales
Part 2 of the UK Finance Mortgage Lenders' Handbook is amended by lenders without notice. Check the current version before relying on any requirement described here.
Getting a Fleet Mortgages redemption request answered first time
Most of the delay on a redemption statement comes from establishing what the lender wants before anyone starts drafting. Getting that answer early is usually worth more than any amount of chasing later.
Write once and include everything: the date you expect to redeem, your standing, every account or roll number, and how you intend to pay. Allow Fleet Mortgages five working days, and allow yourself room to ask again if the date moves.
The date you expect to redeem
Quote it explicitly. The figure is calculated to a date, and a statement raised to the wrong one is a statement you have to ask for again.
Who you act for
State that you are retained by the borrower, or that you hold their written authority. A lender that cannot tell which applies is entitled to decline.
Every account or roll number
Take them from the official copies and from the client, not from one or the other. Where Fleet Mortgages holds several loans on one charge, a figure covering some of them does not clear it.
How you intend to pay
Say so, and label the payment so it can be allocated on arrival. A cheque should be payable to Fleet Mortgages and carry the account number and the borrower's name; a transfer should carry the account number, your firm name and your address.
Room for the date to move
Five working days is the minimum notice, and a completion date that moves is the ordinary case rather than the exception. Asking with room to ask again is cheaper than asking twice in a hurry.
Before you give an undertaking on a Fleet Mortgages charge
An undertaking to discharge is a personal obligation, and it is given against what the Fleet Mortgages statement says rather than against what it was assumed to say. Read it for these four things before you give one.
The wrong charge
The commonest version of this claim is a figure obtained against the right borrower and the wrong account. It is caught by reading the reference on the statement against the register entry, and by nothing else.
The incomplete figure
The second commonest is a figure that covers the original advance and not the further advance behind it. The charge stays on the register, the undertaking is unperformed, and it surfaces at the buyer’s registration rather than at yours.
The unstated assumption
A redemption figure is calculated on assumptions about the final month, and where those assumptions are not printed they still exist. Ask for them in writing. A client who cancels a direct debit on the wrong day inherits an arrears marker for something nobody explained.
The unexplained charge
Early and final repayment charges should be itemised, and the client should see the statement rather than your summary of it. A client who has read the statement can tell you it is missing a loan; a client who has read a summary cannot.
Getting the Fleet Mortgages charge off the register
The part of this that carries risk is priority rather than paperwork. A buyer's solicitor has a priority period, and a discharge that arrives after it has run leaves an application to be lodged against a register that has moved on. That is why the 1985 guidance from the Building Societies Association and the Law Society is still cited: seven days for the receipted mortgage or Form DS1, and notice of any likely delay so the application can be lodged in time.
Which route applies decides how long you are waiting. An electronic discharge reaches HM Land Registry from the lender's own system and the entries are usually cancelled on receipt, but it covers a discharge of whole only. An e-DS1 is submitted by the lender after it has the correct payment, and it is normally flagged on the redemption statement itself. A paper DS1 comes back to you.
Part 2 of the Handbook holds both answers for Fleet Mortgages: where the discharge and the repayment remittance are to be sent, and whether the lender deals with HM Land Registry directly. Read the current version rather than the one you remember, and send the discharge with the remittance on completion day rather than behind it.
Not a rhetorical instruction: Fleet Mortgages has changed its Part 2 in 10 of the 10 years to 2026, most recently in 2026. Counted from the Lexsure Part 2 change record, which holds the years a Part 2 was amended rather than what any amendment said. Part 2 is amended without notice, so the version to read is the current one whichever way that count goes.
Fleet Mortgages redemptions: questions conveyancers ask
Is your firm listed where borrowers are looking?
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