Paying off your mortgage
The estimate includes the balance of your account today, and the Mortgage Exit Administration Fee if applicable. For buy to let accounts, it will also include any Early Repayment Charges if applicable. It won’t include any future payments you make, charges or costs such as solicitors or litigation costs that may be added when repaying your account in full.
If you want to get the exact amount to repay your account up to a specific date, please log in to our Self-Serve portal and request a redemption statement.
To repay your account in full, you’ll need a redemption statement. You can request a redemption statement by logging in to our Self-Serve portal and using our Redemption Statement screen.
You won’t be charged for requesting a redemption statement, and we’ll send it to you by post. You’ll receive your redemption statement within 10 working days.
A redemption estimate amount is for information only and can’t be used to pay off your account in full.
The estimate includes the balance of your account today, and the Mortgage Exit Administration Fee if applicable. For buy to let accounts, it will also include any Early Repayment Charges if applicable. It won’t include any future payments you make, charges or costs such as solicitors or litigation costs that may be added when repaying your account in full.
A redemption statement tells you how much you need to pay, including any fees or charges, on the given date you plan to pay off your mortgage. It will also include full details of how you can make your payment to us.
If you intend to pay off your mortgage, please log in to our Self-Serve portal and request a redemption statement.
No, there’s no charge for requesting a redemption estimate.
No, there’s no charge for requesting a redemption statement.
You can request a redemption statement at any time, 24/7 free of charge. We’ll post this to your correspondence address and it can take up to 10 working days to arrive.
You can request a redemption statement for any redemption date from now until the end of the next calendar month.
If you need another statement closer to your redemption date, please log in to our Self-Serve portal and request another one closer to the date you want to repay your account. All statements are provided free of charge, and you can request one 24/7 using this online self-service option.
Redemption statements can only be sent by post. Please allow up to 10 working days for this to arrive.
If your statement has not arrived within 10 working days, please log in to our Self-Serve portal and send us a secure message and we’ll look into this for you.
If your redemption statement includes a daily interest amount, you can use that figure to adjust the total amount required if you’re going to make your redemption payment slightly before or after the stated redemption date.
However, if the redemption payment is to be made after the end of the month in which the statement was issued, you’ll need to log in to our Self-Serve portal and request a new redemption statement to make sure you have an accurate total redemption figure.
If you’re not sure about this you can request another statement at any time.
When you’re ready to redeem your mortgage or settle your loan, a redemption payment can only be made by online bank transfer or cheque. It cannot be made over the telephone or through Self-Serve.
We may ask you to provide us with evidence which shows the source of the funds. This is a normal part of UK money laundering regulation, and we may contact you about this if required.
Where redemption monies are received via a solicitor or conveyancer, we don’t require source of funds evidence.
The quickest way to request a redemption statement is by sending us a secure message via our self-serve portal or by calling us.
All redemption statements are sent by post and may take up to 10 working days to arrive.
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.