You’ll shortly be receiving your annual mortgage statement(s) if you haven’t done so already. You’ll have a separate statement for each account you have. Each statement will show your total borrowing and records of all of your transactions on each account during 2008.
To help you along we have put together the most frequently asked questions about mortgage statements below. You can also use our interactive guides to statements browse our existing customers area or Ask a question about mortgages.
When will I receive my annual mortgage statement(s)?
Your annual mortgage statement(s) will be sent out between 19 January and 20 February 2009. If you originally took out your mortgage with TSB Bank plc (or in some cases Lloyds TSB Bank plc), you will not receive your annual statement until April.
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What if I still have not received my statement after this date?
Please check your details to make sure that we have the correct correspondence address. If you have not received your annual statement by the end of March you can ask for another statement to be sent to you. There is no fee if you request one before the end of April 2009.
A charge is normally made for each duplicate statement provided. View our current service charges. If you’d like to go ahead and order a copy of your last annual statement, send your details using our Self-Service form or call 0845 6031 637 or Visit a branch.
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Why does my statement seem as though it’s missing some information?
Please note that annual mortgage statements are printed on both side.
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Why do I have a separate statement showing as sub-account 99?
This statement shows any fees that have been charged to your account during the year.
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What is the redemption statement for?
A redemption statement is included for information purposes only. This shows you how much is left on your mortgage account and what it is based upon.
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Why haven’t I got a statement for a mortgage that I repaid earlier last year?
Annual statements are not sent out for accounts that have been repaid within the year because it contains the same information that was included in your ending redemption statement. If you’d like to, you can request a closing statement to be sent to your correspondence address.
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Why has my balance increased?
There are various reasons why your mortgage balance may increase. For example, you may have had a payment holiday or an instalment break during the year. The missed payments are added to the mortgage, which means that the balance is increased. Please call 0845 6031 637 if you require further details about your mortgage balance.
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Why has my repayment mortgage balance only reduced by a small amount during the year?
Your monthly payment is made up from two parts:
As you pay off your monthly payments, your balance will get smaller and so the interest due will also be less each month. Over time, more of your payment will go towards repaying the mortgage, which will reduce the balance. So you’ll gradually repay the mortgage faster and faster.
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Why has my monthly payment(s) gone up?
Your monthly mortgage payment(s) will have gone up if one, or more, of the following has happened:
Why has my monthly payment(s) gone down?
Your monthly mortgage payment(s) will have gone down if one, or more, of the following has happened:
I have my mortgage on an interest-only basis, so why does my monthly payment amount differ from the amount of interest charged?
Your monthly interest is calculated as a twelfth of the whole year, rather than by the number of days for each month. So, for a month with 31 days, the payment will be slightly less that the interest charged. And, where there are fewer days in the month, the payment may be slightly more than the interest charged.
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What are the debits shown on my statement?
A debit is an amount that has been added to your mortgage balance. It could be:
What are the credits shown on my statement?
A credit is an amount that has been taken away from your mortgage balance. It could be:
How has making regular extra payments affected my mortgage?
What if I’m having problems paying my mortgage?
Tell us as soon as possible if you are having problems repaying your mortgage or think that you might experience problems shortly. You can talk to us in confidence and our mortgage experts will help you all they can, including information to help with financial difficulties, such as claiming state benefits or getting financial advice.
If you think you may be facing difficulties but haven't fallen behind with your mortgage payments, please call 0845 6031 637. If you have already fallen behind with your payments, please call 0800 3894 020.
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If I make a lump-sum capital repayment, how does this affect my mortgage?
It depends on your particular mortgage arrangements:
The minimum capital repayment is £1,000. For all capital repayments a £10 administration fee will be debited to your mortgage account. Please bear in mind that capital repayments on certain mortgages may incur an Early Repayment Charge. If you’re on a fixed rate you will still be able to pay up to 10% before an Early Repayment Charge applies.
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How do I make a lump-sum capital repayment?
You must provide details of your name, mortgage account number and, if your mortgage is made up of more than one part, include details of which individual sub-account you’d like this payment to be applied to.
You can pay your amount in a number of ways:
Cheltenham & Gloucester Customer Services, PO Box 74, Kingsway, Scunthorpe, North Lincolnshire DN17 1AP. Please make sure that your cheque is payable to Cheltenham & Gloucester re A/c (insert your mortgage account number). This will help to protect you from fraud.
Please note that your bank may charge for making a CHAPS payment.
