Paying off your mortgage
Platform customers are able to pay off their mortgage early, and are free to do so at any time. However you may be subject to early repayment charges if you are within a fixed rate period, or have other conditions on your mortgage.
You can request a redemption statement when you are paying off your mortgage. The first redemption statement in any year is free, but a cost will be applied after that. Please see our Tariff of Charges document, available on the website, for more details.
If you are paying off your mortgage to remortgage elsewhere, you can request a redemption statement. This can be done through us directly or through your solicitor.
How to pay off your mortgage:
You can pay off your mortgage by cheque or funds transfer. This can be done by you or by a solicitor acting on your behalf. Please note, you will continue to pay interest whilst the cheque is clearing.
If we have copies of your deeds they will be returned to you upon closure of your mortgage.
When you reach the end of the mortgage, providing all payments have been made, we will write to you to inform you that your mortgage has completed, which ends our interest in your property.
If you are on an interest only mortgage and you reach the end of your term, your balance will still need to be repaid. We will write to you to notify you of the final sum and arrange a payment. If you have any shortfalls, notify us as soon as possible. Once this has been received, we will follow the same process as for repayment mortgages.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE