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Pay off your mortgage in full

Also called redeeming, you can choose to pay off your mortgage in full before the end of your term. Find out how much you'll need to pay and get a redemption statement.

What's on this page

  1. Find out how much you'll need to pay
  2. Get a mortgage redemption statement
  3. Charges for paying off your mortgage early
  4. What you need to do when paying off your mortgage
  5. Ways to pay off your mortgage
  6. What happens after you make your payment

Find out how much you'll need to pay

Use our online Mortgage Manager to see how much it will cost to completely pay off your mortgage. This is called your redemption figure.

Your redemption figure is your outstanding mortgage balance plus any charges that apply for paying off your mortgage early.

You can get a figure for any date within the next 3 months.

More about using Mortgage Manager

Get your mortgage redemption figure or statement online

The fastest way to get your mortgage redemption figure or statement is by using Mortgage Manager.

The mortgage redemption statement contains important information about your mortgage and a breakdown of the total amount you'll need to pay. You’ll only need a redemption statement if you’re planning on paying off your mortgage in full.

If you're re-mortgaging and moving to another provider through a solicitor or conveyancer, they may ask for a redemption statement from you.

How it works:

  • First, we’ll ask you some questions about your situation.
  • Then, we'll show you the total amount you need to pay off your mortgage in full today. Or, you can choose a future date.
  • If you need one, you can download a redemption statement. This is a formal document with key information about your mortgage. It includes a breakdown of the total amount you need to pay and what happens next.

The easiest way to access a redemption statement is by selecting the following options:

  • I would like to pay off my mortgage in full
  • I've been asked to provide a redemption statement

Information:

If you’ve moved home, we will update your mortgage address, but not the addresses on your other accounts. Please remember to update your contact details for other products you hold with us. Find out how to update your contact details.

Get your redemption figure or statement online

You can view your redemption figure or download your statement by logging in to Mortgage Manager. You will need to be registered for our internet bank or banking app to do this.

To register, click the log in button below and select ‘Register Now’ in the top right corner to get started.

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Call us to get a redemption figure or statement

If you can’t access Mortgage Manager because you don’t have our banking app or internet bank, you can call us. Be sure to have your mortgage account number ready.

Monday to Friday, 8am to 6pm.
Saturday, 8:30am to 4pm.
Closed Sundays and bank holidays.

0345 609 25 31

Charges for paying off your mortgage early

We may charge an Early Repayment Charge (ERC).

If this charge does apply, it will be included in your redemption figure. And listed on your redemption statement.

Also keep in mind if you're using a solicitor or conveyancer, they may charge for the work they do for you.

For a full list of mortgage fees and charges, see our tariff of charges.

What you need to do when paying off your mortgage 

When you pay off your mortgage, follow these steps to avoid any issues that could mean additional charges or payments.

  1. Make sure you pay on the date stated

    The figure shown on your redemption statement is only valid for the date stated. If we receive your payment after this date, you'll be charged additional interest. This could lead to a shortfall.

    The figure will also include any Direct Debits that have been taken within the last 4 working days or that are due to be taken in the next 4 working days.

  2. If you pay by monthly Direct Debit

    If you pay monthly by Direct Debit, you don’t need to do anything. We will cancel it after the account is closed. Do not cancel your Direct Debit yourself. Any overpayments will be refunded within 10 working days.

  3. If you pay by standing order

    If you pay by standing order, remember you will need to cancel this once your mortgage is paid off in full. Any overpayments will be refunded within 10 working days.

  4. Review any insurance policies you may have

    If you have any insurance that is related to your mortgage, check if the policy still suits your needs. We recommend getting advice on making any changes if you need to.

Ways to pay off your mortgage

Once you know how much you need to pay, you can pay off your mortgage online or by cheque.

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What happens after you make your payment

Once the full amount has been paid off, your account(s) will automatically enter our closure process. This takes up to 15 working days to complete. In that time we will:

  • Issue a letter confirming account closure. This will be sent to you or the solicitor acting on your behalf.
  • Refund any money that we have received that is more than we needed to close your account. This would be paid either directly to the account you make your regular payment from, by cheque, or to the solicitor acting on your behalf.
  • Arrange for any title deeds we hold to be sent for you.

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