Paying off mortgage early?

[mexico07]

Hi , has anyone paid off their mortgage early ? We have just received our annual statement and would like to pay the balance off , it has a balance and a charge for settlement, do I just send them this or do I have to go to a solicitor? Can I just pay through online banking? Sorry, I know I sound a bit thick but we haven’t dealt with a solicitor in about 16 years so I have no idea what we are supposed to do and looking on the mortgage companies site doesn’t give any info on early settlement, thank you for any advice xxx

[ChrisS]

Advised mortgage company our intention to redeem, final figure paid via online banking, no solicitor involved.

[mexico07]

Thank you xxx

[chrisxal]

No need to involve solicitors and incur a fee, we just popped into the bank without an appointment and were taken into a separate little room to discuss options ie did we want to invest the monthly amount into something else and it was done.

[YorkshireT]

Well done- Best thing we ever did, had it paid off at 41 after saving like mad for 15 years in an offset account.
At one time I was considering moving to a much bigger property, but my house is an adequate size and this Coronavirus matter has put me off taking on another mortgage for good.
No you shouldn’t need a solicitor you just pay it off and they remove the charge.

[Mrs Toolman]

Just contact your provider for a final settlement fee and then pay it off. It's a lovely feeling knowing the house is completely yours 😁

[sueandco]

We paid ours off early, it was useful when helping three children through uni and then it went in to long term savings. DH is now fully retired (57) and I should have retired at the end of March (55) but was asked to stay on due to current circumstances but I will be retiring as soon as possible.

[Taffy1959]

We paid ours off early and just called in to the building society told them why we were there and it was all sorted in a few minutes.
No solicitor was needed and it was a lovely feeling knowing it was 100% ours.

[Guest]

We paid ours off when I was 43. It wasn’t possible to do it online as my mortgage account was not an online one. But it was all done with one quick phone call.

[Pottermouse]

We had to make an appointment at the local branch (Nationwide) where they printed off the final statement and we paid it there and then.

Very easy to do and one of the best feelings ever