Halifax Loan

Simon_B_2

Having just cut my loan in half, halifax have refused to lower the monthly payment and want an additional 2 months interest (£81) if i pay the thing of early is there anything i can do to improve this situation? as it feels like i am being robbed blind.
Hopefully i will be able to pay it all off later this month using the egg money card/0% credit card combo and have the entire thing paid off in 9 months but if there is anything i can do about the 2 months interest? as that would be fantastic.

jonesMUFCforever

It is normal for repayments to stay the same but you will end up paying it early and therefore pay less interest.
If the early repayment clause was in your loan agreement then you have to pay it if you want to repay early.
However you could pay off the balance less one month's payment and let that payment go through as normal and this should mean the penalty is gone!

regularsaver1

it is because they do not base their loans on a daily basis as such

it would have been in your offer about paying 2 months interest early repayment charge, as you did not pay until the 3rd month initially