# Letter of Discharge Issue



## Locky (22 Jan 2014)

Hi,
We are in a prediciment and need some urgent advice. We have a tracker mortgage on a house we have been trying to sell for a few years. We were initially told ( verbally ) by the bank ( this bank is not in the guarantee ) that we could get another loan through them at a favorable rate ( close to ECB ) when looking to purchase another house but now they are saying that the only way we can do that is if the "sell & buy" happen at the same time which of course is impossible for us now.

Things are further complicated now in that the house is waiting to be sold but the letter of discharge has not been forwarded by the bank as the sale of the house does not cover the mortgage on the property even though we got a letter from them a while back to say that we could continue to pay the balance of mortgage at the tracker rate if we sell the house.

Appreciate some advise on this from someone that maybe had a similar experience. We really feel that they have been most unhelpful todate.


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## dewdrop (22 Jan 2014)

I am not a Solicitor but am a bit puzzled with your situation. You say your house "is waiting to be sold but the bank has not furnished the Letter of Discharge".  I would have thought usual course is a house is sold and proceeds used to clear the Mortgage (or some other agreed arrangement to deal with a shortfall) at which stage Bank would furnish the Deed of Discharge.  I assume you have engaged a Solicitor to deal with the sale and really it is a matter for him/her to advise you on your situation.


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## Locky (22 Jan 2014)

Hi thanks,
Yes - that is what we thought too & yes we do have a solicitor on this but we were only notified by them of this issue the week of closing which is crazy we think


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