- Coming to the end of your term
- Paying off your mortgage early
- Making your final payment
- Title deeds to your property
You’ll receive a letter from us before your mortgage ends. We’ll let you know how much you need to pay to close your account(s), including any Early Repayment Charge and fees due – read our Tariff of Mortgage Charges for details.
You can pay off your mortgage (known as redeeming), in full at any time. You’ll need to ask us for a redemption statement so you know how much to pay to close your account(s) including any Early Repayment Charge and fees due – see our Tariff of Mortgage Charges for details.
You can request your statement:
It’s worth thinking about your wider finances before paying off your mortgage early. We recommend speaking with an independent financial adviser (IFA) if you want financial advice.
Cancelling your direct debit
When you make your final payment, it can take a few days to show on your account. If you pay by direct debit, we’ll cancel it within five working days of receiving your payment.
Important:If you have a direct debit due within ten days of making your final payment, we may be unable to stop it. You’ll need enough money in your bank account to pay the amount due and avoid any fees being charged by your bank. We’ll automatically arrange a refund ten days from receipt of the direct debit, so there’s no need to get in touch.
Reasons to redeem
A redemption statement shows how much it will cost to pay off your mortgage on a specified date. You’ll need to tell us why you’re redeeming using the options below:
Same property – Repaying your mortgage in full, from your own funds
Sale of Property
Moving property – Repaying your mortgage in full (including moving to a new lender)
Remortgage to other Lender
Same property – Taking out a new mortgage with a different lender
Full term redemption
Same property – Paying off your mortgage at the end of its term
Same property – Where your mortgage is switched to a new Bank of Ireland account
New Property / Same Lender
Moving property – Taking out a new Bank of Ireland mortgage
Moving property – Moving your mortgage to a different property
Same property – Paying off your mortgage with funds from an endowment or insurance policy
Same property – Make a part redemption (lump sum payment) on your mortgage
Your title deeds are official documents about your property.
If we hold your deeds, we’ll return them once your mortgage is paid off. We’ll send them to:
- Your solicitor, if you’re using one to deal with your redemption
- You, if you’re not using a solicitor. We’ll send you a form to sign before returning them.
You can see whether we hold your deeds in your hub.