Annual statements

You may have some queries about your annual statement so we’ve compiled some useful information below.

Customer Questions & Answers

When will I receive my annual mortgage statement(s)?

Who you originally took your mortgage out with will determine when your annual will be sent.

You may be sent your annual statement, which covers the previous 12 months, in January, June or the month after the anniversary of your mortgage start date.

What if I still have not received my statement after this date?

If you’ve changed your address, it’s important to keep us updated. Please contact us so that we can understand your circumstances and take you through the process.

If you have not received your annual statement, you can ask for another copy to be sent to you by contacting us.

What is a closing balance?

This shows the total amount you owe on your mortgage at the date of the statement. Please note this is not the amount it would cost to close your mortgage; the exact amount needed for that will depend on the date you wish to redeem your mortgage on. You can request an up-to-date figure to redeem your mortgage by:

Calling us on 0330 159 6612*. Lines are open Monday to Friday 8:30am-6:00pm (excluding Bank holidays).

Or, by writing to us at Whistletree, PO Box 116, Skipton BD23 9FF.

Why don’t I have a mortgage statement for an account I closed earlier this year?

We don't send out annual statements for accounts that have been repaid within the year because you would have received the same information in your ending redemption statement.

If you would like a copy of your closing statement, you can request this by contacting us.

My correspondence address has changed, what shall I do?

If you’ve changed your address, it’s important to keep us updated. Please contact us so that we can understand your circumstances and take you through the process.

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 missed some of your monthly payments. If you’ve taken a payment holiday you can find more information around how this impacts your mortgage on our Payment Holidays page. The missed payments are added to the mortgage, which means that the balance is increased. If you require further details about your mortgage balance, please contact us on 0330 159 6612*. Lines are open Monday to Friday 8:30am-6:00pm (excluding Bank holidays).

Why has my balance only reduced by a small amount over the year?

If you have a repayment mortgage, your monthly payment is made up from two parts:

  • The monthly interest.
  • An amount that goes towards repaying the amount that you have borrowed.

When you make 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.

Why has my payment gone up?

Your monthly mortgage payment(s) will have gone up if one, or more, of the following has happened:

  • You've missed a payment during the year, which means that your mortgage balance has increased.
  • Your fixed-rate, tracker, capped or discounted period may have come to an end and the new interest rate is higher than your previous deal. See our Rate Switch page for more information on changing to a new interest rate.
  • The amount owing from your payment holiday during the year has been added to your mortgage.
  • Charges and costs have been added to your account.
  • You've asked for the term on your mortgage to be shortened.
  • You've switched your mortgage to a repayment.
Why has my payment gone down?

Your monthly mortgage payment(s) will have gone down if one, or more, of the following has happened:

  • You have made a lump sum overpayment, reducing your mortgage balance.
  • You have made extra mortgage payments, reducing your mortgage balance.
  • Your fixed-rate, tracker, capped or discounted period may have come to an end and the new interest rate is lower than your previous deal.
  • You've asked for the term on your mortgage to be extended.
  • You've switched your mortgage to Interest Only.
I’m on the Standard Variable Rate. Can I change it?

We may be able to help you change your rate on your secured borrowing subject to status and lending criteria. For more information on switching your rate please see our Rate Switch page for more information on changing to a new interest rate or call our Customer Contact Centre on 0330 159 6613*. Lines are open 8.30am-6.00pm Monday-Friday (excluding Bank holidays).


My mortgage is Interest Only, why is my payment amount different to the interest charged?

Your monthly payment 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 than the interest charged. And, where there are fewer days in the month, the payment may be slightly more than the interest charged.

What are the debits on my statement?

A debit is an amount that has been added to your mortgage balance. It could be:

  • Interest charged.
  • A return of a credit amount that was made to your mortgage account.
  • Charges, fees or costs that have been added.
What are the credits on my statement?

A credit is an amount that has been taken away from your mortgage balance. It could be:

  • Any payment that has been received on your mortgage account.
  • A refund of a debit amount that was made to your mortgage account.
Is interest charged on fees and charges applied to my mortgage?

Interest may be applied if charges and costs are added to your account, at the same rate as your mortgage. You can choose to repay the charges at any time to stop further interest accruing.

How does an overpayment impact my mortgage?

Making overpayments can help to reduce your mortgage balance and the interest you are charged over the term of your mortgage. Even small overpayments can add up and make a big difference to the total amount of interest that you will pay.

If your mortgage has interest that is charged daily, this is reduced as soon as we receive a payment. The interest is calculated based on the lower balance. The monthly payment will not change at this time.

If your mortgage has interest charged on an annual basis, your balance will go down straightaway. However, the balance on which interest is charged will go down at the end of your statement period. Interest for the following year will then be calculated on the reduced balance.

You can find more information on overpayment here.

What if I’m having trouble making my payments?

If you are worried about making your mortgage payments, you should call us immediately. The sooner you speak to us, the more we can usually do to help. We will always consider your personal circumstances and be fair and considerate at all times.

Alternatively, you can visit our Personal Support section for details of how we can help and details of a number of independent organisations offering free support and advice who can help you keep your finances on track. They provide impartial Information and support if you are experiencing (or anticipate) financial problems.

My statement says I have an Interest Only mortgage, but it’s only temporary what does this mean?

If your annual statement is produced when we’ve agreed a temporary change to the type of mortgage you have, it will reflect the temporary change.

You should refer to the documents we sent you when any change to your mortgage was agreed. If you have any questions please contact us on 0330 159 6612*. Lines are open Monday to Friday 8:30am-6:00pm (excluding Bank holidays).