Mortgage redemption statements

Find out when you might need a redemption statement, what it includes and how to get one.

What's on this page?

What is a redemption statement?

A redemption statement tells you exactly how much it costs to completely pay off your mortgage, on a specific date. It helps make sure your final payment or remortgage goes smoothly. 

It includes:
  • your outstanding mortgage balance
  • your outstanding interest
  • your daily interest rate
  • any early repayment charges or fees.

When do I need a redemption statement?

If you’re paying off your mortgage early (also known as redeeming your mortgage)
If you're moving to a new mortgage deal with a different lender. This is called remortgaging.

How do I get a redemption statement?

Paying off your mortgage in full or remortgaging with a different lender
Fill in our online form and we’ll post it to you within 5 working days.

You’ll need your:
  • mortgage account number
  • the date you want to pay off your mortgage.

What happens next?

  • You’ll get your statement in the post
  • It explains how to make your final payment
  • Your redemption statement explains when to cancel your Direct Debit payment. If you forget, we'll automatically refund you by bank transfer. It might take up to 14 working days to arrive
  • Once we’ve closed your mortgage, we’ll write to you to confirm. We’ll also return any documents you might need. This should arrive within 14 working days.

What should I do if the date of my final payment changes?

That’s not a problem. The statement explains how to adjust your final amount.