How to read a mortgage statement

In this brief guide, we will discuss what a mortgage statement is, how to get your mortgage statement and how to better understand the details contained within.

What is a mortgage statement?

A mortgage statement is an annual statement your mortgage lender sends you. Your mortgage lender also sends you monthly mortgage statements. Different mortgage lenders may have varying formats but the information contained will usually be the same.

What is an annual mortgage statement?

Annual mortgage statement is a yearly statement which a mortgage lender sends a borrower that contains key information about the mortgage account. This includes all the transactions during the statement period, the type of mortgage, the interest charged the mortgage balance etc 

Your annual mortgage statement will usually be sent to you within 28 days of the anniversary of your mortgage account being opened. If you have an offset mortgage then you will also receive your mortgage statement monthly.

Can I get my mortgage statement online?

Ij most cases, you can’t view your mortgage statement online as this is only produced at the end of the year. 

You may be able to view previous year statements online but this is dependent on your mortgage lender. 

The details you may be able to view online will include your mortgage balance, any transactions within your mortgage account, the interest rate you are being charged and the due dates of your monthly mortgage repayments. 

Your mortgage statement will usually be sent to you by post within 4 weeks of the anniversary of you opening your mortgage account.

Can I view my Halifax mortgage statement online?

You cannot view your Halifax mortgage statement online but you will be able to view details such as your current mortgage balance, your monthly mortgage repayment amount, your mortgage interest rate, the remaining term on your mortgage and a list of transactions within your mortgage account.

How do I find out my mortgage balance?

To find out your mortgage balance you can contact your mortgage lender by phone or alternatively you can log into your mortgage account online and view your mortgage balance.

What is in your mortgage statement?

Your annual mortgage statement will contain all the information you will need to assess your mortgage account over the past year. Below are the key pieces of information on your annual mortgage statement.

Account Number –

The first thing on your mortgage statement will be your mortgage account number. You will use this number whenever you want to contact your mortgage lender about your mortgage.

The property address – 

Your mortgage statement will also contain the mortgaged properties address.

The mortgage statement will also contain the type of mortgage rate you have:

Fixed-rate mortgage – 

The fixed-rate mortgage is set by the mortgage lender and remains until the end of the fixed-rate term.

Variable-rate mortgage –

The variable rate mortgage is an interest rate which may change based on any changes the bank of England’s base rate does. The mortgage rate can also change based on your mortgage lenders.

Discount rate mortgage –

The discount rate mortgage may have a discount on the mortgage lenders standard variable rate or the bank of England’s base rate.

Tracker rate mortgage- 

This mortgage may trank the bank of England’s base rate

Standard variable mortgage- 

The standard variable mortgage is the mortgage lenders own mortgage rate which they set. This mortgage rate is usually set by what the bank of England’s base rate is.

You may have a combination of any type of interest on your mortgage product.

Current interest rate – 

Your annual mortgage statement will then state what specific interest rate you are being charged on your mortgage.

Balance at the start and end of the statement period –

The mortgage statement will display what the total balance on your mortgage is at the beginning and end of the statement period.

Credits in-

This section of the mortgage statement shows the total amount of money paid into your mortgage account during the statement period.

In – shows the total credits made to each sub-account throughout the statement period and the total amount paid to your mortgage.

Debits in-

This section shows the total debits to the mortgage. This could be interest and fees which are added to the mortgage.


This will list any insurance product which is attached to your mortgage

Payment reversal- 

This column will refer to any direct debits or cheques which were reversed as they did not clear or were claimed back.

Payment due-

This will list the dates and amounts payment were due on your mortgage account.

Mortgage payment protection policy-

If your mortgage payment protection policy is held with the mortgage lender then you will see details of this

Mortgage subpart- 

Some mortgages may be made up of different types of mortgages- in this case, they will be divided into subparts, clearly stating what interest terms and rates apply to which part and when the terms end and start.

Account Transactions – 

Your mortgage statement will also show all the account transactions during the statement period. This could be direct debits, interest, mortgage overpayments, product fees, mortgage account fees and debits.

Repayment Method –

The mortgage statement will also show what your mortgage repayment method is for your mortgage account. You could be using any or a combination of the three methods of repaying a mortgage. These are repayment, interest-only and a combination of repayment and interest-only.

Remaining Term – 

It will also state the remaining term on the mortgage account.

Interest Rates – 

It will show the interest rates charged during the statement period as well as confirm if the interest in your mortgage was calculated daily, monthly or on an annual basis.

Early Repayment Charges – 

It will also contain the early repayment charges associated with your mortgage and any information on when these charges may expire.

Mortgage payment difficulties –

There will also be a section on your mortgage statement encouraging you to get in touch if you are facing any mortgage difficulties.

Mortgage statement guides from lenders

Below we have pointed to some mortgage statement guides provided by some mortgage lenders in the Uk market. These guides offer specific information on how the mortgage lender arranges their mortgage statement and will allow you to better understand the information on your mortgage statement if you are a borrower from any of the below mortgage lenders.

Halifax Bank


Lloyds bank

Barclays bank

West Brom building society

Leeds building society

Bank of Ireland

Metro Bank

Skipton building society

TSB bank

Tesco Bank

Examples of mortgage statements

-Leeds building society



Getting a remortgage

You may want to consider using an independent mortgage broker to get a remortgage.

Mortgage brokers are important as they can access mortgage products from across the whole of the market in some cases. This could be over 11,000 mortgage products. This may have some advantages than going directly to a mortgage lender.

A mortgage broker will look to understand your financial circumstances and then provide recommendations on which mortgage products may be suitable for you.

After giving you these mortgage recommendations, most mortgage brokers will seek your consent to apply for a mortgage in principle. This will allow you to shop for your home easier as more estate agents and sellers may take you seriously or it will give you confidence that your remortgage is indeed a possibility before you make a full mortgage application. Once you have found a home you want to buy or are satisfied with the mortgage offer for your remortgage then the mortgage broker will then look to get you a mortgage offer.

This will come with a key facts illustration document which details out the features of your mortgage including how much you will pay per month if there are any limits such as early repayment fees, or annual overpayment limits.

If you are happy with everything you can then go on to secure your mortgage with the help of a conveyancer.

In this brief guide, we discussed what a mortgage statement is. If you have any further questions then let us know.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.