overpayment of halifax loan

WaxiesDargle

hi

I took out a £10,000 unsecured loan from the halifax which I pay back £450 a month, however I would like to overpay so I get rid of it quicker.

Their website says it's ok to overpay, but says you have to send a cheque. I've looked, but can't see any other way of doing it, ie on-line or even going into a branch. has anyone had experience of overpaying a halifax loan?
Is a cheque the only way to do it?

cheers

Wutang_2

What did Halifax say when you asked them?

WaxiesDargle

Wutang wrote: »

What did Halifax say when you asked them?

shut down the site...no point in asking advice here.

if you have probs with your car ask the garage
if you want holiday advice ask the travel agent
if you want advice on tax then ring the inland revenue
and for advice on loans, get off the loans forum and ring the bank...job done

cheers wutang...no idea why I didn't think of that...loans forums hey wutung, who needs em :T

bigadaj

WaxiesDargle wrote: »

shut down the site...no point in asking advice here.

if you have probs with your car ask the garage
if you want holiday advice ask the travel agent
if you want advice on tax then ring the inland revenue
and for advice on loans, get off the loans forum and ring the bank...job done

cheers wutang...no idea why I didn't think of that...loans forums hey wutung, who needs em :T

Brilliant you post is so much more helpful.

Note you have nothing useful to add for the OP....

WaxiesDargle

bigadaj wrote: »

Brilliant you post is so much more helpful.

Note you have nothing useful to add for the OP....

brilliant thanks..I thought my post was helpful as well..

Note...I am the OP

InsertWittyName

Hi.

I overpay my Halifax Loan online - but you can't do it via a 'bill payment', you have to set it up as a standing order.

Sort code: 77-77-90
Account number: 90000468

And use your loan reference as the payment reference.

Please double-check the sort code and account number (as you always should).

Hope this helps.

WaxiesDargle

Hi IWN

Thank you for your help, it does help and much appreciated.

I'll check the code.

Thanks again

backinbusiness

Even if you do contact the bank you may well get conflicting advice.

I was advised I couldn't overpay as I had an "old-style" loan.

It was only in my last year of paying (once I'd become savvy enough to digest even the smallest of print on the annual statement) I discovered that I could have been overpaying.

Contact them for the correct details, and as always send £1 first. You will see your loan balance reduce online by the £1 - then you are good to go.

Good luck OP

sharpy2010

I was just going to suggest the send £1 first, but backinbusiness has beaten me to it!

Joeler

With Halifax, even if you pay off half as a lump some, your monthly payments wont come down, but there will be less of them - worth thinking about...

StuC75

Joeler wrote: »

With Halifax, even if you pay off half as a lump some, your monthly payments wont come down, but there will be less of them - worth thinking about...

That would be what most people would want to happen..

Know Tesco have it that when make an overpayment, they will contact you to confirm what to do with it - e.g. reduce Payment or reduce term - if unable to confirm will then reduce payment & confirm in writing (as this isnt the most MSE savvy choice).