Your summary statement explained

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3 Your summary statement explained 1. Balance at 1 January 2016 The money you owed as at 1 January Amount advanced during 2016 Any additional money you borrowed from us during 2016, or the original advance if the mortgage was taken out during If you had any monies advanced during 2016 and opted to add any fees to this amount, they will be included in this figure. 3. Interest charged during 2016 This figure shows you how much interest was charged on your mortgage account(s) during Mortgage Protection Assurance premium A charge for Mortgage Protection Assurance. This will only apply to loans taken out with us before 1 January Property insurance premium The total charged to your mortgage account for either buildings only insurance or buildings and contents insurance in Your mortgage statement only includes the property insurance premiums if you pay them as part of your monthly mortgage payment. If you have a separate property insurance policy, it will not appear here. 6. Other charges A figure totalling any other charges applied to your mortgage. A complete list of our fees and charges is available on request at any branch, on our website, or by calling For more information, visit thecoventry.co.uk/mortgagefaqs 7. Payments received in 2016 The total payments credited to your mortgage in Balance at 31 December 2016 We calculate this using the following sum:

4 9. Interest rates The interest rate(s) charged on your mortgage during 2016, together with the dates on which they changed, if this applies. 10. Cost of repaying your mortgage early This is how much it will cost if you decided to repay your mortgage in full early, and is correct as at 31 December This will include a mortgage exit fee, unless your mortgage has less than one year to run on your entire mortgage balance at the time of redemption. Also, an early repayment charge (ending your mortgage) may apply. If your mortgage consists of sub-accounts we will show the cost of repaying each part on the individual subaccount summary pages. If an early repayment charge (ending your mortgage) does apply, we ll provide its expiry date on the relevant summary statement. Please note that this statement gives an indication only of the cost of redeeming your mortgage. If you wish to pay off your mortgage, please call us or visit your local branch and we ll be happy to provide an up to date full redemption quotation. 11. Repayment type A reminder of the repayment scheme you ve arranged with us, which will be one of three types: Capital repayment mortgage Each month, you repay some of the original funds borrowed, plus the monthly interest on the outstanding balance. Interest-only mortgage With your interest-only mortgage, your regular monthly mortgage payments only cover the interest charged on the money you ve borrowed. Part interest-only and part capital repayment mortgage Your mortgage is a mix of these two types of scheme. For example, you may be repaying the money you borrowed plus interest on half your mortgage, while paying just the interest on the other half. An important note if you have an interest-only mortgage With your interest-only mortgage your regular monthly mortgage payments only cover the interest charged on the amount you borrowed. So, unless you re making overpayments, you ll still have the total amount you borrowed left to repay when your mortgage comes to an end. By having an effective repayment plan in place now, you can be more confident that your finances are on course to repay your mortgage balance. You should regularly check the performance of any plans you have in place to pay us back, such as savings plans or endowment policies. Your itemised statement explained 12. Payments due in 2016 A list of the payments that were due on your mortgage during These figures will include any property insurance premiums if they apply.

5 If you find the amount due in one month varies significantly to other months, this could be due to an interest rate change on your mortgage, borrowing further funds or changes you have made to your mortgage e.g. from interest-only to capital repayment. 13. Payments received in 2016 A breakdown of payments you ve made to this mortgage during the past 12 months.