Overpaying my Halifax mortgage

shjo558

This all makes sense - I don't want to reduce the terms of the mortage atm as no ones job seems to be secure so lower monthly payments is a good safety net.

nhaslum

I overpay by standing order and it comes off the capital even though I haven't requested it. You can add your mortgage to your halifax online banking and watch the balance fall.

teapot2

nhaslum wrote: »

I overpay by standing order and it comes off the capital even though I haven't requested it. You can add your mortgage to your halifax online banking and watch the balance fall.

How did you go about doing that - I'd be interested in doing that too?

WideAwake

I have my mortgage as one of 'my accounts' on the Halifax site, but can't see any of the overpayments (like a statement - can you guys?)....All I can see is the remaining balance with the term and monthly payment....

Something

I have a halifax mortgage, the interest is paid daily, everytime I make an OP I check my halifax online account and record how much I owe on the day and the following day, and can see the difference.

I have it set up by S/O which I did on my online LLoyds account, very easy to set up, just add sort code and account number plus mortgage ref number a/XXXXXXXXXX and you can raise/lower the S/O Cancel/start without any phone calls, branch visits ect.

It also doesn't show my history on my mortgage, I just assume this is bank tactics to stop people seeing just how much interest they are getting to keep OP's down.

irsa

Something wrote: »

I have a halifax mortgage, the interest is paid daily, everytime I make an OP I check my halifax online account and record how much I owe on the day and the following day, and can see the difference.

I have it set up by S/O which I did on my online LLoyds account, very easy to set up, just add sort code and account number plus mortgage ref number a/XXXXXXXXXX and you can raise/lower the S/O Cancel/start without any phone calls, branch visits ect.

It also doesn't show my history on my mortgage, I just assume this is bank tactics to stop people seeing just how much interest they are getting to keep OP's down.

i tried to do this from my Lloyds account, did a test payment of £3.00 to my Halifax mortgage account to see if it worked but have just checked my mortgage balance and the balance seems to have gone up instead of coming down .

SimbaSimon

irsa wrote: »

i tried to do this from my Lloyds account, did a test payment of £3.00 to my Halifax mortgage account to see if it worked but have just checked my mortgage balance and the balance seems to have gone up instead of coming down .

It may take a day or so to show on your account, and if the interest shows daily then you balance may still rise (but should be lower then what it would of been without overpaying).

e.g. my interest is £8 a day, if I pay £4, then the difference that day is £4 and the balance will go up by £4 instead of £8.