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Advice on Halifax Mortgage payment increases
Miss_J
Posts: 399 Forumite
Halifax (my Mortgage lender) wrote to me recently to inform me that they were increasing their SVR rate from 3.5% to 3.99%.
I have a 55K mortgage with them, 50K on a fixed rate of 2.79% and 5K on the SVR rate. Until now I've been paying 356.38 each month on the mortgage. After recieving their letter I was expecting the payment to increase slightly. Today I have recieved a letter from them informing me of my previous rate and what the new rates will be from 1st May and that my new payment will be 356.37.
Now I'm slightly confused because the payment should have gone up slightly, but instead has reduced by 1p per month. Does that mean they've calculated my payment wrong and if left at this will mean I'll owe them money?
I have a 55K mortgage with them, 50K on a fixed rate of 2.79% and 5K on the SVR rate. Until now I've been paying 356.38 each month on the mortgage. After recieving their letter I was expecting the payment to increase slightly. Today I have recieved a letter from them informing me of my previous rate and what the new rates will be from 1st May and that my new payment will be 356.37.
Now I'm slightly confused because the payment should have gone up slightly, but instead has reduced by 1p per month. Does that mean they've calculated my payment wrong and if left at this will mean I'll owe them money?
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