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You can pay off your mortgage in full - also known as a mortgage redemption - at any time. However, you might need to pay an early repayment charge (ERC) and any other applicable fees.
If you want to pay off your mortgage in full, you can find your redemption figure using our Mobile Banking app or Internet Banking
If you donāt bank online, you can complete our online form. Weāll then send you a redemption statement, which will show the total amount you need to pay. Itāll include any recent payments, interest charges, ERCs, and other fees.
You can also ask for a redemption statement over the phone, give us a call.
If your mortgage is coming to the end of its term, weāll automatically close your mortgage after your final payment. Weāll also refund any money to you if youāve overpaid.
The ERC is calculated and applied on the date we receive your payment.
It might be best to wait until your ERC percentage lowers or ends before you make a payment. For example, your redemption figure shows your ERC percentage will go down on 01 July. If you make your payment on 30 June, you might have to pay more.
Once youāve received your redemption statement, you can pay off your mortgage in full with any of these options. Itās best to check your payment limits with your bank before making any large payments.
Important
We might need to get in touch with you about a refund or your account after youāve paid off your mortgage. Please check your details are up-to-date, so it doesnāt delay things. Check and update my details.
You can pay off your mortgage in full using our Mobile Banking app or Internet Banking. Simply log on and select āPay & transferā if youāre using the app or āPayments and transfersā in Internet Banking. Then make your payment to the account below:
For the payment reference, please put your mortgage account number, plus an extra ā00ā on the end, so itās 16-digits in total.
If youād like to make a CHAPS payment from a Lloyds account, youāll need to do it at one of our branches. A Ā£25 fee will usually apply for each CHAPS payment. Find your nearest branch here.
To pay off your mortgage in full using your bank account, youāll need these details:
For the payment reference, please put your mortgage account number, plus an extra ā00ā on the end, so itās 16-digits in total.
To pay off your mortgage in full by phone, call our automated service.Ā You'll need yourĀ 14-digit mortgage account number to hand. Once complete, you can request a text message to confirmĀ your payment.
To close your mortgage account once itās been paid off in full, please call us.
The most you can pay by phone in one go is Ā£60,000, but you can make more than one payment per day.
Otherwise, consider our other options or come and see us in branch.
Please make all cheques payable to 'Lloyds Bank'.
On the back, write your 14-digit mortgage account number plus an extra ā00ā on the end, so itās 16-digits in total.
Post to:
Lloyds Bank,
Barnett Way,
Gloucester,
GL4 3RL
You can also pay your cheque in at your nearest branch.
Confirmation of repayment
In most cases, youāll receive confirmation your mortgage has been repaid within 10 days of payment.
Your payments
Please cancel your standing order with your bank, if you made your monthly payments this way. If you paid your mortgage by Direct Debit, weāll cancel it automatically. If any extra payments have been made, weāll refund you within 10 days. Weāll send you a letter to confirm weāve done it.
Insurance
You should review your insurance cover to make sure it still meets your needs.
Legal charges ā England and Wales
You don't need to use a conveyancer to repay your mortgage. Weāll remove our charge at the Land Registry once your mortgage has been repaid.
Legal charges - Scotland and Northern Ireland
If youāre already using a conveyancer, theyāll deal with the repayment and discharge for you. If not, youāll need to ask a solicitor to remove our charge from your property once youāve repaid your mortgage.
If your propertyās registered with the Land Registry
Your documents are stored electronically on your behalf. You donāt need to do anything.
If we hold your title deeds or your property isnāt registered with the Land Registry
Youāll receive your deeds within 28 days of mortgage repayment.