Paying off your mortgage

You can request a redemption statement using Self-Serve, in writing or over the phone. We’ll typically produce and post your statement within 8-10 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, which is available 24 hours a day, 7 days a week.

You can see our handy guide on how to do this at the bottom of this page.

Request a statement in writing or by phone
If you write to us, to help avoid delays, please include the following within the letter:

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

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

Your redemption statement shows you exactly how much you owe on your mortgage, including any fees payable, on the given date when you requested the statement.

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

However, if the redemption payment is to be 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.

A redemption payment can only be made by cheque or online bank transfer. It cannot be made over the telephone.

Online bank transfer

Please transfer the required amount, using the correct bank details – including your mortgage account number as the reference.

For Hessonite Mortgages, we have different bank account details depending on your type of account.

If your account number begins with 4, 5 or 6:

Account name: Topaz Finance Limited
Sort code: 40-41-70
Account number: 00038792
Reference: Your mortgage account number

If your account number begins with 1:
Account name: Topaz Finance Limited
Sort code: 40-41-70
Account number: 20038806
Reference: Your mortgage account number

If you are unsure of which bank details to use, please call us.

Cheque payment

Cheques for the required amount should be made payable to Hessonite Mortgages and your mortgage account number should be written on the reverse.

Please post your cheque to:

Hessonite Mortgages
PO Box 140
Gateway House
Skipton
BD23 9GF

We’ll apply the payment and confirm the mortgage is redeemed within 15 days after receipt of the funds. We’ll send a confirmation letter to you and any other account holders named on the mortgage.

We recommend you don’t cancel your Direct Debit until your mortgage has redeemed.

If you will be moving home quickly after making the redemption payment, please contact us and provide a forwarding address so we know where to send our confirmation letter.

Source of funds

If the redemption payment you are making is for £10,000 or more, we may ask you to provide us with evidence which shows the source of the funds. This is a normal part of UK money laundering regulation, and 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.

You won’t have to pay an early repayment charge to us if you redeem your mortgage for any reason.

You will need to pay a Mortgage Exit Administration fee, which is added to the final amount that you owe us. The fee varies for different customers and will be included on your Redemption Statement. You can also find details of this on your original mortgage offer, where it may have previously been referred to as a Mortgage Discharge Fee.

Where the amount of redemption funds received is more than the amount required to redeem the loan, 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 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 loan in full, we will apply the funds we have received as a capital repayment to reduce the balance owed.

We will write out 10 working days after receipt of the funds to confirm the remaining balance still required.