Halifax Mortgage

Hi,

I am on Halifax SVR, have been for a few years but I'm only just finding myself in a position to start overpaying :T.
I am using the spreadsheet to track payments but find the balance of my mortgage fluctuates so I have to keep adjusting the starting balance to make the current month balance tally up with what is on the internet banking site.
Anyone know why this is? My balance has gone up by a couple of hundred pound from yesterday. Is it the way or times that the interest is calculated?

My monthly payments were £939. I called halifax and asked them to round it up to £1000. I am making regular payments on top of this through the month using internet banking.

regards,

Hyp

Replies

  • The balance online updates on payment day, then if you overpay say 10 days later they add 10 days interest then take of the op, so if its only a small op the balance will go up.

    i like this easy daily calc

    www .bllaw.co.uk / services for business / insolvency and recovery / simple interest calculator . aspx

    i cant post links doh

    hope it helps
  • MissOptimisticMissOptimistic Forumite
    457 Posts
    Forumite
    I have the same trouble keeping track of my Halifax Mortgage as their online banking is rubbish! - However I did receive a letter earlier in the year saying that it was going to be improved and I would receive a new log-in etc and it would be much easier to understand the balance etc - So maybe that will help
    Emergency Savings Fund - £1100
    2015 Mortgage overpayments = £
  • I have the same trouble keeping track of my Halifax Mortgage as their online banking is rubbish! - However I did receive a letter earlier in the year saying that it was going to be improved and I would receive a new log-in etc and it would be much easier to understand the balance etc - So maybe that will help

    really? cool... it is rubbish at the mo
  • Argh that's really rubbish as the spreadsheet is a great motivator!
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