How to get a mortgage redemption statement
When you want to pay off the mortgage in full.
What information do you need for a redemption statement?
1. Mortgage details
The mortgage account number
The borrower(s) named on the mortgage
2. The date the mortgage will be paid off
This must be within 4 weeks of your request.
We’ll calculate the amount owed on this date. If the mortgage is not paid on this date, the amount will change.
3. How the mortgage will be paid off
For example:
Refinancing (moving the mortgage to another provider)
Using other funds. We’ll need details on where the funds have come from.
4. Evidence of how the mortgage will be paid off
We need evidence to show the full amount of the mortgage can be covered. We cannot provide a statement without this. The type of evidence we need depends on the reason for the redemption.
Reason
Proof required
Refinance
A new mortgage offer letter that confirms the new lender, loan amount and expiry date.
Sale of property
A sales memorandum confirming the sale of the property.
Other funds
A bank statement from the last 3 months that’s in the borrower’s name. Details of where the money has come from.
Reason
Evidence required
Refinance
A new mortgage offer letter that confirms the new lender, loan amount and expiry date.
Sale of property
A sales memorandum confirming the sale of the property.
Other funds
A bank statement from the last 3 months that’s in the borrower’s name. Details of where the money has come from.
How long does it take to get a redemption statement?
You’ll get the statement in 5 working days. A working day is any day that is not Saturday, Sunday or a bank holiday. If you’re a customer, we’ll upload it to your customer portal. If you’re a solicitor, we’ll email it to you.
Are there any fees or charges?
There could be a redemption administration charge or early repayment charges (ERCs). We’ll include these in the statement.
How can I make the payment?
You can pay by Faster Payments or CHAPS. CHAPS payments have a £23.50 fee. We’ll include the payment details in the redemption statement.
Want to get in touch?
Email your redemption request
Send us the details we need, and we’ll get back to you in 5 working days.
Got a question?
Call us if you need more help.
Monday to Friday: 9am to 5pm
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.