How do redemption statements work?

A redemption statement shows the exact amount needed to pay off your mortgage on a specific date.

It includes:

• Your remaining mortgage balance
• Interest due up to completion
• Any early repayment charges

Your solicitor requests this from your lender during the sale process. On completion, the mortgage is paid directly from the sale proceeds, and any remaining funds are transferred to you.

Knowing your redemption figure helps you understand how much equity you will receive after the sale.

Sell House Fast works with solicitors to ensure your mortgage is cleared as part of the transaction. To understand what you could receive, you can get an online quote to see what we’d offer for your property.