The calculations under each rate are based on the same balance. The balance used does not allow for increases of decreases which will have happened on live accounts. Maturity of fixed, discounted or stepped rate mid term through the year. Yes on an ongoing basis, most customers whose fiexed, discounted or stepped rate matures receives a letter of explanation. This is generally up to 2 months before the payment change becomes effective.
Customers choose whether to opt into our annual review system.
They can also opt out at any time without charge for doing so. We have no plans to limit that customer choice. Yes, on request. No fee is normally charged for this transaction. For Budget Plan customers we recalculate payments at the end of February each year and they are effective from April each year.