I’m a customer
I’m a solicitor

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.  
I have an Open Market Homebuy mortgage 

We’ll need to value your property before we can send you a redemption statement. Please call us on 0345 1200 200.

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.

I’m a solicitor

If you’re on our panel, you can request a redemption statement and title deeds using our online form. 
See below for more information.

What if I’m not on the panel?

You’ll need to complete an application form to join our panel of solicitors. You can then use the online form 
to get a redemption statement or title deeds.
Or, if you don’t join our panel, you can ask for a redemption statement in writing. See below for our address.

Title Deeds

We don’t hold title deeds for mortgages completed after January 2004. If we do have the deeds, we’ll send 
them by Recorded Delivery. They’ll be sent the next working day after your request.