Platform Home Loans 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 Platform Home Loans for, and what to confirm before completion.
- Minimum notice
- 5 working days
- Handbook reference
- Part 2 · 17.2.1a/b
- Platform Home Loans Part 2 last changed
- 2026
- Years with a change
- 7 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.
Requesting the figure from Platform Home Loans
The general position on a redemption statement is the same across the market. What differs is the lender's own requirement, and that sits in Part 2 of the UK Finance Mortgage Lenders' Handbook rather than in general guidance.
What slows a redemption down is almost never the calculation. It is a request that arrives without a date, without a statement of authority, or without one of the accounts the charge secures.
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 Platform Home Loans 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 Platform Home Loans 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.
Four checks on a Platform Home Loans redemption statement
Four questions, and a statement that answers all four is one you can give an undertaking against. A statement that answers three is one to ask about before completion rather than after it.
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.
Discharging the Platform Home Loans charge, and registering it
There are three ways a charge comes off the register and the lender chooses which. An electronic discharge goes from the lender's system to HM Land Registry directly, and the charge entries are usually cancelled on receipt; it applies to a discharge of whole only. An e-DS1 is submitted by the lender once it has the correct payment, and the statement normally says in advance that this is the route. A paper DS1 is returned to you to lodge. Part 2 of the Handbook records which route Platform Home Loans uses, and it is amended without notice, so the answer to check is the current one.
Send the discharge, where one is needed, with the redemption remittance on the day of completion rather than after it. Part 2 also sets out where both are to be sent, and the two paragraphs are worth reading together: the destination for the money and the destination for the discharge are not always the same address.
If nothing comes back, the 1985 guidance from the Building Societies Association and the Law Society is still the reference point for what to expect: the receipted mortgage or Form DS1 inside seven days, and notice to the seller's solicitor where a delay is likely, so the buyer's solicitor can lodge an application and protect priority.
Not a rhetorical instruction: Platform Home Loans has changed its Part 2 in 7 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.
Platform Home Loans 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 Platform Home Loans.