TO BE PRINTED ON THE HEADED PAPER OF THE SELLER’S Lender’S SOLICITORS

To:

[insert details of the buyer’s solicitors]

(the Buyer’s Solicitors)

[insert details of the buyer’s lender’s solicitors]

(the Buyer’s Lender’s Solicitors), and

[insert details of the buyer’s lender]

Dear [insert organisation name]

This undertaking relates to the sale of [insert property description] (the Property) by [insert seller’s name] to [insert buyer’s name] (the Transaction) and the discharge of the registered charge over the Property dated [insert date] (the Charge) in favour of [insert bank name] (the Bank).

We act for the Bank.

We confirm that:

1. •

   we are holding to the order of the Bank the documents set out in Schedule 1 (the Release Documents) executed by the Bank in respect of the Charge [(copies of which are attached to this letter)];

2. •

   the amount required to redeem the Charge before [insert the time of Completion specified in the contract] on [insert the completion date] is £[insert amount] and thereafter the amount required to redeem the Charge will be [insert