Building Society Mortgage Redemption Statement Guide

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UK Mortgage Help • Redemption Statements & Final Repayment

Building Society Mortgage Redemption Statement: How to Request One and Check the Final Amount

If you are selling your home, remortgaging to another lender or paying off your building society mortgage early, you will usually need a mortgage redemption statement. It shows how much must be paid to clear the mortgage on a particular date.

The figure can be higher than the balance shown in your banking app because it may include interest up to the repayment date, an Early Repayment Charge and other applicable fees. This guide explains how to request the statement, what to check and how to avoid delays at completion.

Request a Redemption Statement Find Your Building Society See a Redemption Example
Before sending money: A redemption statement is specific to your mortgage and the chosen repayment date. Never use payment details copied from an old statement, an unexpected email or an independent website. Verify the latest instructions directly with your lender or conveyancer using trusted contact information.

Independent UK mortgage guide • Reviewed 14 October 2026. Statement validity, fees, redemption procedures and lender contact routes can change. Confirm the latest instructions with your building society.

Mortgage Redemption Statement: Quick Answers

What is it? A lender-issued document showing the amount required to repay and close your mortgage on a specified date.
When is it needed? Usually when selling a mortgaged property, remortgaging to a different lender or paying the mortgage off in full.
Who provides it? Your existing mortgage lender, such as Nationwide, Yorkshire Building Society, Coventry or Skipton.
Who can request it? The borrower or an appropriately authorised solicitor or conveyancer, according to the lender’s procedure.
What does it include? Outstanding capital, interest and any applicable Early Repayment Charges, exit fees or other sums due.
How long does it take? It varies. Some lenders offer an online statement; others use postal or conveyancer-request services.
Does it cost money? The request itself may be free, but redeeming the mortgage may trigger contractual charges or other costs.
Does it close the mortgage? No. The mortgage is closed only after the lender receives and processes the required payment and completes its closure procedure.
Fast answer: If you are selling or remortgaging, ask your conveyancer whether they will request the redemption statement. If you are paying off the mortgage yourself, use your existing lender’s official mortgage redemption service.

What Is a Building Society Mortgage Redemption Statement?

A mortgage redemption statement is a formal calculation issued by your current mortgage lender. It tells you how much must be paid to redeem the mortgage in full on a stated date.

Redeeming a mortgage means paying everything required to clear the mortgage account, not merely making your next monthly instalment.

For example, you may see an outstanding mortgage balance of £145,000 in your app, but the lender’s redemption statement could show a higher amount because interest and fees still need to be included.

Mortgage balance

The outstanding loan balance shown at a particular point in time.

  • May not include interest accrued since the last calculation.
  • May exclude an Early Repayment Charge.
  • Does not necessarily include mortgage exit fees.
  • Is not automatically the amount needed to close the account.

Redemption statement

The calculated amount required to clear the mortgage on a specified date.

  • Identifies the outstanding mortgage amount.
  • Accounts for relevant interest.
  • Includes applicable charges and adjustments.
  • Provides or refers to the lender’s repayment instructions.
Important distinction: Your annual mortgage statement, current balance and redemption statement serve different purposes. For full repayment, request the redemption figure for the date the lender is expected to receive the funds.

How to Request a Building Society Mortgage Redemption Statement

Start with the building society that currently holds your mortgage. Some lenders let customers request or download a statement through online mortgage management. Others provide a dedicated form, telephone service or conveyancer process.

  1. Identify your current lender. Check your latest mortgage statement or correspondence. If the mortgage was transferred between lenders, use the current lender’s instructions.
  2. Find your mortgage account number. You can normally find it on mortgage statements or within the lender’s secure service.
  3. Choose a proposed redemption date. For a property sale or remortgage, use the anticipated completion date discussed with your conveyancer.
  4. Check the correct request method. Some building societies distinguish customer requests from requests made by solicitors.
  5. Complete any identity or security checks. You may be asked about the reason for repayment and the source of funds.
  6. Request the statement. Use the lender’s official online form, secure account service or published contact channel.
  7. Check the returned amount. Review the date, mortgage account, charges and any daily-interest adjustment.
  8. Coordinate the final payment. Follow your lender’s or conveyancer’s confirmed instructions and retain evidence of payment and closure.
Do not leave the request until the day before completion. The lender may need time to prepare the statement, verify funds or answer your conveyancer’s questions.

Information to prepare

Mortgage account number.
Full name of the borrower or borrowers.
Mortgaged property address and postcode.
Proposed repayment or completion date.
Reason for redemption, such as sale or remortgage.
Contact information registered with the lender.
Conveyancer’s details when applicable.
Source-of-funds information if requested.

Do not enter the information above on Building-society.org. Supply it only through your lender’s verified, secure request process.

Request a Redemption Statement From Your Building Society

The correct route depends on your lender. The following official pages explain how Nationwide, Yorkshire Building Society, Coventry Building Society and Skipton handle mortgage redemptions.

Official NationwideNationwide Mortgage Redemption Statement

Nationwide provides an online Mortgage Manager service that can show a redemption figure or allow eligible customers to download a formal statement.

Nationwide states that customers can choose a redemption date within the next three months.

After opening this link:

  1. Read the section titled “Get your mortgage redemption figure or statement online”.
  2. Open the Mortgage Manager route.
  3. Sign in through Nationwide’s official app or Internet Bank credentials.
  4. Select the option indicating you want to pay off the mortgage in full.
  5. If requesting a formal document, select the option indicating that you have been asked to provide a redemption statement.
  6. Choose the relevant repayment date.
  7. Download the available statement and review the charges and next steps.
Nationwide member? Our Nationwide Building Society guide also explains account services, mortgage support and official contact routes.

Official Yorkshire BSYorkshire Building Society Redemption Statements

Yorkshire Building Society provides separate customer and solicitor routes. Its official guidance says customers can request a statement online and receive it by post.

YBS currently states that customer statements are posted within five working days, while its request form also advises allowing up to seven working days for arrival.

After opening this link:

  1. Read “How do I get a redemption statement?”.
  2. Select the customer redemption statement form.
  3. Enter the requested borrower and mortgage-account information.
  4. Choose the proposed repayment date.
  5. Provide the reason for redemption and information about the source of funds if requested.
  6. Submit the request and allow for postal delivery.
  7. Read the repayment instructions carefully when the statement arrives.
YBS date limit: The current customer request form only permits a requested repayment date up to eight weeks ahead. Check its current rules when planning completion.

Official Coventry BSCoventry Building Society: Redeeming Your Mortgage

Coventry Building Society currently directs members planning to redeem their mortgage to call 0800 121 8899 or visit a local branch.

Its guidance says that a redemption statement is valid for seven days from the date it was produced.

After opening this link:

  1. Read Coventry’s explanation of redemption statements and validity.
  2. Contact the Society using its published phone number or branch route.
  3. Explain whether you are selling, remortgaging or repaying from your own funds.
  4. Provide the proposed date and complete the lender’s verification process.
  5. Request a fresh statement if the earlier statement is outside the lender’s validity period.
  6. Verify the final payment instructions directly before arranging the transfer.

Official Skipton BSSkipton Building Society: Redemption Information for Conveyancers

Skipton publishes a dedicated redemption process for conveyancers. It states that a solicitor’s first request for a client must be made in writing on the firm’s letterheaded paper.

Skipton also says it cannot provide redemption statements for dates outside the month in which the request is submitted.

After opening this link:

  1. Find the section titled “How to request a redemption statement”.
  2. If you are using a solicitor, ask them to follow Skipton’s first-request requirements.
  3. Confirm the proposed completion date falls within the statement’s permitted period.
  4. Review the stated procedure for obtaining a further statement if the first one becomes outdated.
  5. Have the conveyancer verify payment instructions directly with Skipton.
  6. Continue the existing mortgage payments until the lender confirms the mortgage has been fully repaid, unless instructed otherwise.
Security: This guide deliberately does not reproduce Skipton’s or any other lender’s mortgage redemption bank details. Verify the destination and payment reference from an authenticated lender source immediately before transferring funds.
Using another building society? Open your existing lender’s official website and look for “Existing mortgage customers”, “Pay off your mortgage”, “Redeeming your mortgage” or “Redemption statement”. Use the lender named on your current mortgage account, not simply the company that originally arranged the loan.

What Information Is Included in a Mortgage Redemption Statement?

The exact layout varies, but a building society redemption statement normally contains the information needed to identify the mortgage, establish the required payment and understand how the total was calculated.

Statement item
What it means
What to check
Mortgage balance
Outstanding capital or amount owed before relevant final adjustments.
Does the account and amount broadly match your recent records?
Accrued interest
Interest due up to the calculated repayment date.
Is it calculated for the intended redemption date?
Daily interest
Interest that may be added for each extra day the mortgage remains outstanding.
Does the lender permit adjustments, or require a new statement?
Early Repayment Charge
A contractual charge that may apply if the mortgage is redeemed during a chargeable period.
Does the charge match the terms of your particular mortgage deal?
Exit or administration fees
Any permitted contractual fees linked to closing the mortgage.
Has any fee already been paid or included previously?
Redemption date
The date for which the full repayment figure has been calculated.
Does it match the planned completion or settlement date?
Total redemption figure
The stated sum to clear the mortgage on the specified basis.
Has the conveyancer confirmed the final amount and payment procedure?
More than one mortgage account? Some borrowers have separate loan parts or sub-accounts. Confirm whether the redemption figure covers every part that must be cleared and whether there are other charges secured against the property.

Example: How a Mortgage Redemption Figure Is Calculated

Suppose you plan to repay a building society mortgage in full. Your recent mortgage balance is £165,000, and the lender calculates additional interest and charges for the proposed redemption date.

Component
Illustrative amount
Explanation
Outstanding mortgage capital
£165,000
Remaining capital in this example.
Interest due
£320
Illustrative interest for the chosen date.
Early Repayment Charge
£3,300
Illustrative 2% charge on £165,000.
Mortgage exit fee
£65
Illustrative contractual fee, if applicable.
Total redemption amount
£168,685
Illustrative sum needed to clear the mortgage.
£165,000 + £320 + £3,300 + £65 = £168,685

This is a hypothetical calculation, not a quotation from any building society. Actual figures, fee structures, interest calculations, charge bases and payment adjustments depend on the mortgage contract and lender.

What if completion happens three days later?

Suppose the statement allows an adjustment and shows additional interest of £18 per day. A three-day delay would add £54 of interest, giving an illustrative total of £168,739.

£168,685 + (£18 × 3 days) = £168,739
Do not adjust every statement yourself. This example applies only where the lender’s instructions permit a daily-interest adjustment and no other charges change. Some lenders require a fresh redemption statement, and an Early Repayment Charge may change at a deal boundary.

Early Repayment Charges: Why Your Redemption Figure May Be Higher

An Early Repayment Charge, commonly called an ERC, can apply when you repay a mortgage during a period covered by the charge. This is particularly relevant if you are leaving a fixed-rate or other special-rate deal early.

The amount and calculation basis should be explained in your mortgage offer and applicable terms. It may reduce over the deal period, but that is not universal.

Fixed-rate mortgage An ERC may apply if you repay during the fixed-rate period, depending on the contract.
Tracker mortgage Some trackers include ERCs; others offer more flexibility. Check the specific terms.
Standard variable rate Some borrowers have no ERC once their special-rate period ends, but other contractual fees may still apply.
Porting a mortgage Moving a mortgage deal to a new property may be possible, subject to the lender’s rules, new lending assessment and timing.

Can you avoid an Early Repayment Charge?

Sometimes changing the redemption date, using a permitted overpayment allowance or successfully porting a mortgage can reduce or avoid an ERC. However, these options depend on the product and circumstances.

For example, if your fixed-rate deal ends shortly before your planned house sale, ask the lender and conveyancer whether completing after the ERC period ends would materially change the total cost.

Compare the whole transaction. Waiting to avoid an ERC could affect your sale, purchase or replacement mortgage rate. Saving an ERC is not worthwhile if the delay creates greater costs or puts the transaction at risk.

How Long Is a Building Society Redemption Statement Valid?

There is no single validity period shared by all building societies. It depends on the lender, statement issue date, proposed repayment date and the way the lender calculates daily interest.

Building society
Published approach
What it means
Nationwide
Mortgage Manager can calculate a redemption figure for a date within the next three months.
Choose the expected repayment date and check the statement’s own instructions.
Yorkshire Building Society
Its customer request form allows dates up to eight weeks ahead and published guidance explains date adjustments.
Allow time for delivery and follow the statement if completion changes.
Coventry Building Society
States that its redemption statement is valid for seven days from issue.
Request a fresh statement when the earlier one is outside the stated validity period.
Skipton Building Society
Its conveyancer guidance restricts requested redemption dates to the current month.
Coordinate the request with the actual completion schedule.
Changed completion date? Do not assume the original total remains correct. Ask the lender or conveyancer whether the statement can be adjusted or must be replaced.

Mortgage Redemption Statement When Selling Your Home

When selling a property with a mortgage, your conveyancer normally needs to arrange for the existing mortgage to be repaid from the completion funds.

A redemption statement allows the conveyancer to establish the amount required to clear the existing lender’s charge.

Typical sale and redemption process

  1. Instruct a conveyancer. Provide the current mortgage lender and account information.
  2. Confirm the anticipated completion date. Your conveyancer uses the expected date when arranging redemption information.
  3. Obtain the statement. The conveyancer may request it directly with the appropriate authority or ask you to obtain it.
  4. Review the completion statement. It should account for the redemption sum and other transaction costs.
  5. Complete the sale. The conveyancer handles repayment according to the transaction arrangements.
  6. Obtain closure confirmation. The lender and conveyancer deal with the mortgage discharge and any necessary registration updates.
Negative equity: If the sale price is insufficient to cover the outstanding mortgage and transaction costs, you need to discuss the shortfall with the lender and conveyancer before assuming the sale can complete.

Will the mortgage be paid from the sale proceeds?

Usually, the conveyancer accounts for the mortgage redemption as part of the financial settlement at completion. The amount remaining after the mortgage and other applicable costs is the seller’s net proceeds.

If you have a second secured loan or another registered charge, additional repayment or consent arrangements may be required.

Redemption Statements When Remortgaging to Another Lender

A remortgage generally involves replacing your existing mortgage with a mortgage from another lender. The new mortgage funds are used to clear the existing mortgage, subject to the transaction’s legal and financial arrangements.

The redemption statement identifies what the old lender must receive for the mortgage to be cleared.

Remortgage to a different lender

  • Normally requires redeeming the existing mortgage.
  • May involve an ERC or exit fee.
  • Usually requires conveyancing work.
  • The new lender and conveyancer need accurate redemption information.

Switch to another deal with the same lender

  • Often described as a product transfer or product switch.
  • May not require redeeming and discharging the whole mortgage.
  • Can have a different application and fee process.
  • May be simpler, but the total deal cost still matters.
Useful distinction: If you are only changing your mortgage rate with the same building society, ask about a product transfer before requesting a full redemption. The correct process depends on your mortgage arrangement.

Example: Switching to another lender

You owe £180,000 on your current mortgage. Your new lender offers a £180,000 remortgage, but the old lender’s redemption figure is £181,250 after interest and charges.

The additional £1,250 must be accounted for. Your conveyancer and new lender can explain whether additional personal funds or another permitted arrangement will be needed.

How to Pay Off a Building Society Mortgage in Full Yourself

You may want to redeem your mortgage using savings, an inheritance, investment proceeds or other available funds without selling the property.

A redemption statement is particularly important because the amount in your app may not represent the complete settlement figure.

  1. Contact the current building society using its official redemption service.
  2. Explain that you intend to repay the mortgage in full.
  3. Select a realistic repayment date.
  4. Request the formal redemption figure and identify any ERC or fees.
  5. Complete the lender’s identity and source-of-funds checks if required.
  6. Confirm the payment method, limits and reference through the authenticated lender service.
  7. Arrange the payment in accordance with the lender’s instructions.
  8. Obtain confirmation that the mortgage is closed and ask how the property charge will be removed.
Direct Debit warning: Do not cancel your mortgage Direct Debit merely because you have requested a redemption statement. Follow your lender’s closure instructions. If the repayment is delayed, the regular instalment may still be due.

Will the building society ask where the money came from?

It may. Mortgage lenders have financial-crime prevention and customer due-diligence obligations. Depending on the circumstances, they can ask about the source of the repayment funds.

Keep supporting evidence available where appropriate, such as bank statements, a solicitor’s completion statement or relevant documentation explaining the funds.

Large payment: Check both your lender’s accepted payment methods and your own bank’s transfer limits before choosing the redemption date. A transfer delayed by payment limits or verification can affect the final sum.

Can a Solicitor Request a Mortgage Redemption Statement?

Yes. Solicitors and licensed conveyancers frequently obtain redemption statements when dealing with sales and remortgages.

The lender may require the firm to be authorised, identify the borrower correctly and use a specific professional request channel.

Borrower authority The lender may require confirmation that the conveyancer is authorised to request the information.
Mortgage details The firm normally needs the borrower’s details, mortgage account reference and property information.
Completion date The redemption figure should align with the expected date of payment.
Professional instructions Some lenders require a particular online form, panel status, letterheaded request or secure communication route.

Official professional serviceYorkshire Building Society Solicitor Redemption and Title Deeds Form

This is an example of a lender’s separate process for legal professionals. It is not intended for direct customer use.

After opening this link:

  1. Confirm that the form is for solicitors and professional conveyancers.
  2. Select whether the firm needs a redemption statement, title deeds or both.
  3. Enter the firm’s details and the relevant borrower and mortgage information.
  4. State the expected redemption date and reason for the request.
  5. Confirm authority to act for the borrower.
  6. Submit through the official process and follow up within the lender’s published timeframes.
Payment instructions: Conveyancers should follow appropriate verification and anti-fraud procedures. A changed bank account sent by email is a red flag that should be independently checked before any money is sent.

What Happens to the Mortgage Charge After Redemption?

A redemption statement is not proof that a mortgage has been discharged. The lender must receive the correct funds and complete the relevant mortgage-discharge process.

In England and Wales, a registered mortgage is normally protected by a legal charge on the property’s title. After full repayment, the charge must be cancelled or released through the appropriate HM Land Registry procedure.

England and Wales: DS1 and electronic discharge

HM Land Registry accepts several forms of discharge evidence, including an electronic discharge or e-DS1 from lenders or their authorised agents, as well as paper DS1 evidence where applicable.

Its official guidance explains that the lender can submit the discharge once the correct mortgage redemption payment has been received.

Official HM Land RegistryPractice Guide 31: Discharges of Charges

After opening this link:

  1. Read the introduction to identify which type of registered charge is involved.
  2. Review the guidance for discharging registered legal charges.
  3. Find the electronic discharge and e-DS1 sections.
  4. Check which steps are carried out by the lender or conveyancer.
  5. If the charge remains on the title after repayment, ask the lender or conveyancer whether the discharge has been submitted and completed.

Scotland and Northern Ireland

Property registration systems differ across the UK. Scotland uses its own land-registration and discharge arrangements, while Northern Ireland has separate Land Registry and Registry of Deeds procedures.

If your mortgaged property is outside England and Wales, ask your conveyancer about the applicable local process rather than following an England-and-Wales DS1 guide.

Final check: Once the mortgage has been repaid and the relevant registration process completed, you can check the updated property record through the appropriate official land-registration service.

Common Mortgage Redemption Problems and How to Resolve Them

Problem
Possible cause
What to do
Redemption figure is higher than expected
Interest, Early Repayment Charges or other contractual fees.
Check the itemised statement and your mortgage offer.
Statement has expired
The lender’s validity period has passed.
Request a new statement or follow the lender’s permitted adjustment procedure.
Completion date changes
Interest or charges may differ on the new date.
Tell the lender or conveyancer immediately.
Statement is delayed
Processing, verification or missing request information.
Check the published timeframe and follow up through the official service.
Payment does not match the figure
A wrong date, incorrect amount or other adjustment.
Ask the lender to confirm any outstanding amount before assuming the mortgage is closed.
Mortgage still appears on title
The discharge may not yet have been registered.
Ask the lender or conveyancer for the discharge status.
Unexpected payment instructions
Administrative error or potential payment-diversion fraud.
Stop and independently verify the instructions before paying.
If a sale or remortgage is close to completion: Inform your conveyancer immediately about a missing statement, unexpected charge or date change. Do not send an unverified payment to speed up the transaction.

Mortgage Redemption Statement vs Other Mortgage Documents

Annual mortgage statement Shows account activity and mortgage information over a reporting period. It does not necessarily provide today’s full settlement figure.
Mortgage offer Sets out the terms of the mortgage being offered, including relevant fees and repayment conditions.
Redemption statement Gives the amount needed to clear the existing mortgage on the specified basis.
Mortgage closure confirmation Confirms that the lender has processed repayment and closed the account, subject to any remaining administrative matters.
Mortgage discharge Deals with removing or releasing the lender’s legal charge against the property.
Completion statement Prepared by the conveyancer to account for money received and paid during a property transaction.

Before Making Your Final Mortgage Payment: Checklist

I have the latest statement for the correct mortgage.
The redemption date matches the expected payment date.
All mortgage sub-accounts that must be closed are included.
I understand any Early Repayment Charge.
I have reviewed other fees and accrued interest.
I know whether the figure can be adjusted if payment is delayed.
I have independently verified the payment instructions.
My bank can make the required transfer in time.
I have followed the lender’s Direct Debit instructions.
I know how mortgage closure will be confirmed.
I know who will arrange discharge of the property charge.
I have kept copies of statements and payment confirmation.

Official Mortgage Redemption Resources

Use the current lender’s published guidance when requesting a statement. The links below are official sources, not third-party payment services.

Nationwide: Pay Off Your Mortgage in Full Yorkshire BS: Redemption Statements Coventry BS: Redeeming Your Mortgage Skipton BS: Conveyancer Redemption Guidance Yorkshire BS: Customer Request Form Yorkshire BS: Solicitor Request Form HM Land Registry: Practice Guide 31 HM Land Registry: Electronic Mortgage Discharge
Official source note: The lender-specific timings and request procedures in this guide are based on the published pages linked above. Your actual mortgage statement and the lender’s current instructions take precedence.

Independent Financial Information and Safety Notice

Building-society.org is an independent information website. It is not a mortgage lender, building society, solicitor, conveyancer, financial adviser or government land-registration authority.

This guide cannot issue redemption statements, verify repayment figures, accept mortgage payments, discharge registered charges or close mortgage accounts.

Mortgage redemption requirements can vary by lender, mortgage agreement, property location and transaction. Obtain professional legal or regulated financial advice where appropriate.

Fraud prevention: Never send redemption money to bank details supplied only through an unexpected email, text or telephone call. Independently confirm the payment destination using a verified lender or conveyancer contact method.

Building Society Mortgage Redemption Statement FAQs

1. What is a building society mortgage redemption statement?

A mortgage redemption statement is a formal calculation from your lender showing the amount required to pay off your mortgage in full on a specific date, including relevant interest and charges.

2. How do I request a mortgage redemption statement?

Contact your current building society through its official mortgage redemption service. You may be able to request the statement online, by telephone or through an authorised solicitor or conveyancer, depending on the lender.

3. Is a redemption statement the same as my mortgage balance?

No. Your mortgage balance may exclude interest and charges that are included in the full repayment calculation. A redemption statement provides the amount needed to clear the mortgage on the specified basis.

4. How much does a mortgage redemption statement cost?

The cost of requesting a statement depends on the lender’s terms. Even if the statement is free, paying off the mortgage can involve Early Repayment Charges, exit fees or other contractual costs.

5. How long does a mortgage redemption statement remain valid?

Validity varies by lender. Coventry Building Society currently states seven days from issue, while other lenders use different date limits and adjustment procedures. Check the actual statement and current lender guidance.

6. Can my solicitor request a redemption statement?

Yes. An appropriately authorised solicitor or conveyancer can normally request a redemption statement for a sale or remortgage, following the building society’s professional request procedure.

7. Do I need a redemption statement when selling my house?

Usually, yes, if there is an existing mortgage to repay. Your conveyancer normally needs the lender’s redemption information so the outstanding mortgage can be settled from the completion arrangements.

8. What happens if my completion date changes?

Tell your lender or conveyancer promptly. A different completion date can change interest or charges. The lender may permit an adjustment or require a new redemption statement.

9. Will my mortgage automatically disappear from the Land Registry after payment?

Not simply because a redemption statement was issued. Once the lender receives and processes full repayment, the appropriate discharge procedure must be completed. The relevant land-registration system then records the release or cancellation of the charge.

10. Can I cancel my mortgage Direct Debit after requesting a redemption statement?

Do not cancel it simply because you have requested a statement. Follow your lender’s instructions about the final payment and Direct Debit cancellation. Regular payments may still be required until the mortgage has been fully redeemed.

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