Now to log in a redemption statement we'll need to go to history. Importantly we need to make sure we put the redemption statement in the history and mail phrase it correctly. If you've received it by an email you shouldn't just drag the email across you should put the pdf attachment onto your desktop and then drag it in from your desktop. So you'll put it in and you'll need to select the MS1R, so the R stands for redemption and the S I believe stands for sale.
So you click mortgage sale redemption, find the drop down which will be just for an initial one, it will always be this one. If it's a revised figure obviously you'd use this one and if it's a final figure there'll be a separate mail phrase for you later on. It won't show me on this one because it's a test case. So redemption figure, you click accept and this email will be automatically generated. Normally, I wouldn't see that, but because it's a test case, there's no one for it to go to.
It would go to the fee earner to say a redemption figure has been received. It appears to be a final redemption figure. You can just ignore that part of wording. But what that does is it means if someone else logs the redemption figure for you.
For example, if it comes in via LMS or lender exchange, we have a bot that will grab it and put it into the file for you. And it will then generate this email for the fee earner to let them know that that is in and they need to check it and log it properly. But just on this one, I'm going to click cancel because that's got nowhere to go.
This is a test case. So you'll see it's now mail phrased incorrectly here and just here. Now we need to go to the correct screen. So click on inquiry and we would go.
to log initial forms. It's there. And you'll see here's the part for the redemption figure.
And you'd click here, lender initial redemption statement in. Click. What is the redemption figure?
Just going to put a random number. Is the first lender mortgage account number that? And you need to make sure that that matches what is on the redemption statement.
It should. do because for the system to request the redemption statement initially it needs to be the correct figure, correct mortgage account number. Then get this pop this screen pop up. You must make sure that the redemption figure in here is correct. Make sure that matches what's on the initial statement and this will flag up to you if it looks like it's a negative equity case.
So if the redemption figure is more than the sale price. Click OK. Please print out the next letters. You will not get a copy for the file. So you don't need to print it, but it will attach it to an email.
It's finished already. Yes, you don't need. That's an old pop up. But what that does is it generates this email. that goes out to the client to say I've received a redemption figure from your lender.
If you don't agree with the lender's figures you must contact them directly and it will also remind them that the estimated figure they put on their instruction form and there's a little note here which you can have a read through separately.