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Halifax loan... going up before it's coming down :/

rdchick · 2011-06-01 08:23:46

Hi guys, So I have a loan with Halifax that I took out last year for £3500... currently the balance is £3582.27... HOW IS THIS POSSIBLE? I have paid £96 every month since September last year. I should have paid at least £500 off by now surely including 'normal sort of interest'? Is my interest soooo high that it's not…

Comments

rdchick Posts: 1,815 Forumite

2 June 2011 at 9:27AM

so today it has gone back down... it's now officially under £3500 which actually feels a little bit better... at least it's under what I took out in the first place... so in theory they steal all their interest at first which is why you can pay it all off until 12 months has passed... even so it's gotta go!!

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