Mortgage balance

xyellowx

bit of advice please

had mortgage for 8 years with halifax, been given 2 outstanding balance figures £3k difference (halifax now saying its the higher figure and admin error)

i would like to check for myself as its such a large difference any advice on best way to do this?

Can i request 8 years worth of statements?

opinions4u

xyellowx wrote: »

had mortgage for 8 years with halifax, been given 2 outstanding balance figures £3k difference (halifax now saying its the higher figure and admin error)

I can think of two reason why this may have happend:

1) You've been given a figure without an early repayment charge that applies to a mortgage product that you have.

2) The Halifax staff system shows capital and interest on separate lines, and a total. It's possible that the person who gave you the low figure didn't include the interest accrued on the mortgage since the previous statement.

i would like to check for myself as its such a large difference any advice on best way to do this?

The branch or call centre should be able to tell you what the amount outstanding was at any date since 1st Feb 2009.

Can i request 8 years worth of statements?

It would have been easier if you'd kept your previous mortgage statements.

While they used to charge for duplicates, I can't see any reference to this charge on their web site.

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[FONT=Arial, Helvetica]Duplicate mortgage payment statements[/FONT]
[FONT=Arial, Helvetica]To have a duplicate mortgage statement sent to your home address,print off and complete the Duplicate statement request form, then post it back (stamp required) to the address on the form.[/FONT]

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xyellowx

thanks opinions4u
halifax said its the 2nd reason the person never added the interest
i have looked and do have all the statements so will work it out for myself todat

xyellowx

Gone through the statements the interest on statements is added on 31st January every year in one lump sum.

Have started internet banking last month so wrote down the mortgage balance and its gone up this month by £111.43 cant understand why its gone up as we are on the base rate tracker and according to statements the interest is put on once a year. tried to phone but shut today.

opinions4u

xyellowx wrote: »

Have started internet banking last month so wrote down the mortgage balance and its gone up this month by £111.43 cant understand why its gone up as we are on the base rate tracker

I might be wrong with this, but I think they calculate your balance (with interest) to the end of the calendar month for the online screens. As soon as your May payment is made, that balance figure should fall. As has happened with my internal payment to a Halifax mortgage yesterday.

and according to statements the interest is put on once a year. tried to phone but shut today.

Interest is added on your statement on an annual basis, but accrues daily. Much like a typical savings account.