Halifax mortgage increase

Fatboy1975

I've recieved a letter from the Halifax that initially reads that they've credited over a £1000 to my mortgage. Upon closer inspection though it actually states that they raised my mortgage payments from 2% above base rate as agreed in the mortgage contract I signed to 3% above. The money they're giving me is the 1% difference I've been paying for the last 18 months and they're only refunding that because they neglected to actually inform me of this. So now they're making the effort to inform me I'll actually be paying the same as I've payed for some time however that feels annoying to say the least as I now know I'm paying an extra 1%. The letter and the young lady I spoke to on the phone tell me that they can do this because of condition 7.17 (c). Does anyone know if this is right and if there is any way I can dispute this?


I don't mind paying my debts as agreed, I just don't like it when institutions decide to change the rules.

Thrugelmir

If you are on the standard SVR, then your contract will state that this is a variable rate which can be changed with due notice.

Suggest you reread your contract.