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Home Mortgages Existing mortgage customers Paying off your mortgage

Paying off your mortgage

Paying off your mortgage means paying back the full amount you still owe. This is also called redeeming your mortgage.

You might do this because you can afford to repay it yourself, or because you are moving your mortgage to a new lender. If you switch lenders, your new lender will usually pay off your old mortgage for you.

Are you moving home? You may be able to move your current mortgage product with us to a new home. We call this porting. To find out more about this, please call us on 0345 601 0014* (Monday to Friday, 8am to 6pm). 

Paying off your mortgage in full

Please call us on 0345 601 0014* to ask for a redemption statement. This is a document that shows how much you need to pay to clear your mortgage.

What your redemption figure includes

Your redemption figure will show the total amount needed to pay off your mortgage. This may include:

  • The balance left on your mortgage
  • Interest still to be paid (worked out daily until the payment date)
  • Any fees for paying your mortgage off early (please see your original mortgage offer for more details about any early repayment charges)
  • Any missed payments
  • Any unpaid fees
  • A Mortgage Exit Administration fee (please see our Tariff of Mortgage Charges)

Not looking to pay off your mortgage in full?

If you are thinking about switching your mortgage to another lender, you may want to speak to us first. We can often make changes to your mortgage without the cost and hassle of moving to a new lender. We also offer exclusive rates for our existing customers.

We can explain your options and help with things like:

  • Changing your mortgage product

  • Borrowing more

  • Moving home

  • Switching to an interest-only mortgage

  • Changing the length of your mortgage term

  • Changes to your finances or problems keeping up with payments

Some of the above options may need an affordability check.

Let’s have a conversation

Whatever your plans for your mortgage, why not have a chat with us? We can help you to be clear and confident about your options. Complete our online form below to book a mortgage advice appointment. Or, give us a call on 0345 601 0014* (Monday to Friday, 8am to 6pm). Mortgage advice appointments are available Monday to Friday 8am to 8pm and Saturday, 9am to 3pm.

Book an appointment

Mortgage redemption FAQs

What is a redemption statement?

It is a statement showing the exact amount you need to pay to repay your mortgage in full, including any fees or interest.

What happens to my Title Deeds?

Title Deeds are legal documents that show proof of property ownership. Once your mortgage is paid off, we will confirm to you in writing. If we hold your Title Deeds, we will either return them to you or your solicitor.

How can I pay off my mortgage?

You can send the money by:

  • Same-day bank transfer (CHAPS)
  • BACS
  • Cheque

Same-day bank transfer is preferred because the money reaches us straight away.

How can I send the money to redeem my mortgage?

Account name: Newcastle Building Society
Account number: 00000008
Sort code: 23-59-54
Reference: Your full mortgage account number

Please make the cheque out to the account holder(s) and send to:
Newcastle Building Society, 
1 Cobalt Park Way,
Wallsend,
NE28 9EJ

YOUR MORTGAGE WILL BE SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.