Paying off mortgage- is it simple?

[HappeeInParis]

I have two mortgages on my house, both with the same lender.

One of them is reaching the end of its fix and I’d like to pay it off in full. Do I just need to phone them for a figure then transfer it? Do I need to do anything to get the charge removed at the land registry? We will still have one mortgage.

Thank you.

Email and ask for the redemption figure and ask how to redeem your mortgage. They will send you this along with instructions what to do. Once you have repaid, they will (should) notify Land Registry who remove the charge - this will take time as there are delays.

Land Registry allow you to sign up to notifications if there are any changes to your register e.g. charge removed, you willl be notified and can request a copy of the updated register.

If you fully redeem you eventually get the Land Certificate.

That’s really helpful, thanks very much.

I would wait til the fixed rate ends otherwise the redemption statement will probably include an early repayment charge. Just check carefully your mortgage offer/s to make sure the mortgages are not inter linked like a together loani.e you would incur penalty for paying one off/ higher interest rate etc.