A redemption statement tells you exactly what it would cost to pay off your mortgage. However, bear in mind that a redemption statement is only valid for seven days from the date it was produced because the cost of paying back your mortgage changes on a daily basis. If you're thinking about redeeming your mortgage in full but your redemption statement is more than seven days old, we recommend you request a new one before making your payment.

The redemption amount shown on your annual mortgage statement is an indication only as it shows the amount that would have applied if you had redeemed your mortgage on or before 31 December of that year.