Paying off your mortgage early

Customers are able to pay off their mortgage 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. You can find more details below. 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.

Bank transfer

Please send any lump sum to:

Account name: Co-operative Bank Mortgage
Account type: Business
Sort code: 089302
Account number: 97883298
Reference: Please quote your unique account number.

Paying by cheque

Please make the cheque payable to 'The Co-operative Bank (insert your mortgage account number)' or 'The Co-operative Bank for (insert your name)'. Please also include your full name and address on the back of the cheque and send to:

The Co-operative Bank
PO BOX 4934
Unit 2 Interface Business Park
SWINDON
SN4 4PN

Your home may be repossessed if you do not keep up repayments on your mortgage.

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