Intelligent Finance redemption figures, and discharging the charge
The route is set out in Part 2 of the Handbook, and Part 2 is amended without notice. What to ask Intelligent Finance for, and what to confirm before completion.
- Minimum notice
- 5 working days
- Handbook reference
- Part 2 · 17.2.1a/b
- Intelligent Finance Part 2 last changed
- 2026
- Years with a change
- 8 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.
What Intelligent Finance needs from you
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.
Three things decide whether a request comes back first time: enough notice, a clear statement of your authority, and a complete list of accounts. Give Intelligent Finance all three in the same letter.
Notice period
Five working days minimum, so a revised figure can be obtained if the completion date moves.
Authority
A redemption figure should only be requested where you have been retained by the borrower or hold their written authority. Say which applies when you ask.
Account numbers
Quote every account or roll number you know of. A partial list produces a figure that does not clear the charge.
Payment by cheque
As a guard against fraud, make the cheque payable to Intelligent Finance and quote the mortgage account or roll number and the borrower's name.
Telegraphic transfers
A transfer that cannot be matched to an account creates exactly the delay you are trying to avoid. Send the borrower's mortgage account number and your firm's name and address with the transfer.
The Intelligent Finance statement says more than the redemption figure
Undertakings to discharge are a recurring source of conveyancer negligence claims, and most of that risk sits in reading the statement rather than in obtaining it. Do not stop at the redemption figure.
Which charge the figure relates to
Confirm it matches the charge on the official copies, and not a different secured account in the same borrower’s name.
Whether it covers every loan on that charge
One charge can secure several loans. A figure covering one of them will not discharge it, and there may be further loans you need to ask about separately.
The assumption about the final monthly payment
Where a mortgage is redeemed mid-month, some lenders still require the whole month and others exclude future payments. The approach is often in the small print. If it is not explicit, get written confirmation of the assumptions used. Otherwise the client cancels the direct debit at the wrong time.
Early and final repayment charges
These should be itemised. Send the client a copy of the statement so they can confirm every loan they intended to redeem is included, and send a completion statement before completion so payment is authorised.
Completion day and afterwards on a Intelligent Finance redemption
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 Intelligent Finance: 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: Intelligent Finance has changed its Part 2 in 8 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.
Intelligent Finance redemptions: questions conveyancers ask
Is your firm listed where borrowers are looking?
Panel membership decides whether you can act at all. LenderPanel maintains the directory borrowers search when they are choosing a conveyancer, including for Intelligent Finance.