Your annual statement
Use your annual statement to check that your mortgage details are as you would expect them to be. The statement will include:
* The date and amount of payments you have made during the year, compared to those that were due, including payments for any tied products that you took out through your lender (e.g., building insurance).
* The cost of paying off the mortgage, including any early repayment charges.
* The term remaining on the mortgage.
* The balance of the loan still owed, at the statement date.
* The amount of interest you have been charged, over the year.
* Where early repayment charges apply, the date that they will stop.
A self-certification mortgage is a special type of mortgage designed for self employed people. Normally a bank or mortgage lender will want to see pay slips from the mortgage applicant's employer. However since self employed people do not have pay slips this type of mortgage enables the applicant to apply without proof of earnings, instead submitting earnings forecasts sometimes backed up by an accountant.
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The Quickest Way To Repay Debts
Yes, it sounds obvious but the quickest way to repay your debts is to make sure the amount you pay is the smallest possible. So repaying ?1,000 at 17.9% interest is going to be far more expensive than an interest rate of 5%.
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