Paying off your mortgage 

It’s easy to get an instant estimated redemption amount. Simply register or sign in to our online Self-Serve system and click view redemption estimate. Self-Serve is available 24/7 from any device, and you won’t need to call us or wait for us to post anything to you.

The estimate will account for your mortgage balance, interest to be charged to the date you select and any mortgage exit fee that may apply. It won’t include any future monthly payments or any other charges and costs that may apply, such as litigation fees.

The redemption estimate will give you a good idea of what you’ll need to pay. You’ll only need to go on and request a formal redemption statement when you’re ready to ‘See our handy step by step guide.’

You can request a redemption statement using Self-Serve, in writing or over the phone.

We’ll typically produce and post your statement within five working days from when we receive your request, although it could take longer.

The length of time it takes us to produce and send your redemption statement is the same regardless of how you make the request.

Request a statement using Self-Serve

You can quickly request a redemption statement using Self-Serve, our secure online system, available 24 hours a day, 7 days a week.

See our handy step by step guide.

Not all customers can register for Self-Serve. You can find more details on our using self-serve page.

Request a redemption statement in writing or over the phone

If you write to us, to help avoid delays, please include the following within the letter:

• Mortgage account number
• Name and address of account holder(s)
• Planned date of redemption

To call or write, please find our contact details here.

Solicitors and conveyancers

Please see our dedicated page for more information about how to request a redemption statement and other details about the redemption process.

Your redemption statement shows the total amount to pay to redeem your mortgage in full including any fees payable. The amount is calculated according to the redemption date that you provide when requesting the statement.

If your redemption statement includes a daily interest amount, you can use that figure to adjust the amount required, if you’re going to make your redemption payment slightly before or after the stated redemption date. You don’t need to request another redemption statement.

But, if the redemption payment is made after the end of the month in which the statement was issued, you’ll need to request a new redemption statement to make sure you have an accurate total redemption figure.

If you redeem your mortgage, you won’t have to pay an early repayment charge to us.

You may need to pay a Mortgage Exit Administration fee of £25, which can be added to the final amount that you owe. If so, this will be included on your redemption statement. You can find more details in our Tariff of Mortgage Charges.

You can make a mortgage redemption payment by online bank transfer or cheque. Please see the details below.

You can’t make a mortgage redemption payment over the phone or online using our Self-Serve facility.

Online bank transfer

Please transfer the required amount, using the correct bank details. Please make sure to verify the details before sending the payment and include your account number as the reference. If we receive your payment without a reference, this may not reach your account.

To find our bank details and send us a payment, please see the welcome letter we sent when your mortgage transferred to Azurite Mortgages. 

If you’re unsure about the bank details to use, please call us.

Cheque payment

Cheques for the required amount should be made payable to Azurite Mortgages. Please remember to write your account number on the back of the cheque and post this to us at:

Azurite Mortgages 
PO Box 144
Skipton
BD23 9GJ

We’ll apply the payment and confirm the mortgage is redeemed within 15 working days of receiving the funds. We’ll send a confirmation letter to you and any other account holders named on the account. This confirmation letter will be sent to the company or customer(s) named on the account, who made the final payment.

If you paid your redemption funds directly to us, and you’ll be moving home quickly after making your redemption or settlement payment, please provide a forwarding address so we know where to send your confirmation letter.

If you make your regular monthly payments by Direct Debit, we recommend you don’t cancel your Direct Debit until you receive confirmation your account has been redeemed. The account may fall into arrears if the redemption funds are not received by the planned redemption date. Once your account is fully repaid, we’ll cancel your Direct Debit.

If you pay by Standing Order, we recommend you don’t cancel the until we confirm the account is fully repaid.

Source of funds

Information regarding the source of funds may be required and this is in line with UK money laundering regulations.  We may contact you about this if required.

Where redemption monies are received via a solicitor or conveyancer, we don’t require source of funds evidence.

Customer(s). You must also make sure that the account from which the money originates, matches the mortgage account holder(s).

For example, Mr & Mrs Smith sent a payment to redeem their mortgage from a bank account held in the names of Mr Smith & Miss Jones. As the mortgage account is in the name of Smith & Smith, we would return this as an unauthorised payment.

Account holder(s) is deceased. If you need to arrange to make a redemption payment from their estate, please contact us and we’ll explain what is required before we can accept third-party payments.

Existing third parties. We can only accept payment from an authorised third party. If you would like to authorise someone to make a redemption payment on your behalf, you need to complete a third party authority form. This allows them to discuss your account details, request information and to make payments. You must complete and return it to us before making a redemption payment.

What happens if the payment is unauthorised?

If funds are received from an account that does not match the details we hold, or the appropriate authority hasn’t been received, or the solicitor/conveyancer’s name is NOT on the redemption statement provided, the payment will be returned to the sender.

This could cause a delay if you’re planning a house sale or remortgage. Payments that are returned will result in a delay to the account being closed and additional interest may be payable.

Where the amount of redemption funds received is more than the amount required to redeem the mortgage, we’ll aim to refund you within 15 working days of receiving the funds.

We’ll return any surplus funds to your bank account where we’re able to do so.

Where this isn’t possible, we’ll post a cheque to you, issued in the names of all parties to the account. If a cheque is requested in any other name (e.g. sole name but it is a joint account) written authorisation signed by all parties to the account will be required.

If the amount received on redemption isn’t enough to pay off the mortgage in full, we will apply the funds received as a capital repayment to reduce the balance you owe.

We will aim to write to you and/or your solicitor within 10 working days after receipt of the funds to confirm the remaining balance that is still required.