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Home » FAQs » Paying off your mortgage » Should I cancel my Direct Debit when repaying my account in full?

Should I cancel my Direct Debit when repaying my account in full?

posted on June 18, 2025

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Should I cancel my Direct Debit when repaying my account in full?

Category: Paying off your mortgage

If you make your monthly payments by Direct Debit or Standing Order, we recommend you don’t cancel your payment instructions until you receive confirmation your account has been closed. The redemption statement takes into account all payments up to the redemption date and assumes they’ve cleared and been paid in full.

If your monthly payments aren’t kept up to date, your account may fall into arrears and additional charges may apply. Your credit rating may also be affected.

We’ll return any surplus funds to your bank account where we’re able to do so within 15 days of your final payment being received. Where this isn’t possible, we’ll post a cheque to you, issued in the names of all parties to the account.

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0371 472 2032

CHL Mortgages, PO Box 146,
SKIPTON, BD23 9GN

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Phone: 01252 365888
Email: [email protected]

Post: CHL Mortgages, Chetwood Bank, Ellice Way,
Wrexham Technology Park, Wrexham, LL13 7YT.

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CHL Mortgages is used under licence by CHL Mortgages for Intermediaries Limited and sub-licenced to Chetwood Financial Limited (company number 09964966). Chetwood Financial Limited is a company registered in England and Wales. Registered office: Ellice Way, Wrexham Technology Park, Wrexham, LL13 7YT. Chetwood Financial Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 740551. Buy to let mortgages for business purposes are not regulated by the Financial Conduct Authority and you will not have any of the protections that the Financial Conduct Authority offers in respect of regulated mortgage contracts or consumer buy to let mortgages. If you wish, you may check the Financial Services Register on the Financial Conduct Authority’s website http://www.fca.org.uk/firms/systems-reporting/register or by contacting the Financial Conduct Authority on 0800 111 6768. We’re also registered with the Information Commissioner’s Office under registration ZA218401 and we’re a member of CIFAS, the UK’s leading fraud prevention service. Copyright CHL Mortgages © 2026.

Your property may be repossessed if you do not keep up repayments on your mortgage.

CHL Mortgages is used under licence and is a trading style of each of the undernoted companies, which have their registered office at Ellice Way, Wrexham Technology Park, Wrexham LL13 7YT.
CHL Mortgages for Intermediaries Limited. Registered in England and Wales under company number 12954007.
Chetwood Financial Limited. Registered in England and Wales under company number 09964966. Chetwood Financial Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 740551. Buy to let mortgages for business purposes and unregulated bridging loans are not regulated by the Financial Conduct Authority and you will not have any of the protections that the Financial Conduct Authority offers in respect of regulated mortgage contracts or consumer buy to let mortgages. If you wish, you may check the Financial Services Register on the Financial Conduct Authority’s website http://www.fca.org.uk/firms/ systems-reporting/register or by contacting the Financial Conduct Authority on 0800 111 6768. Copyright CHL Mortgages © 2026.

Your property may be repossessed if you do not keep up repayments on your mortgage.