Halifax Mortgage Sub-Accounts increased recently?

Simon_gloster

Something doesn't look right here, in favour of the posters.

The main loan debt should be sub 1 ie the house purchase debt or remortgage debt as eg

Annieddiva

I'd definitely recommend having a read of the attachment which is via the below link - and is in blue writing "Further information about your mortgage" - it contains way more info than the pamphlet we got sent in the post..

jonny2510 - it might possibly help with your £245 issue - but for those with sub account issues it won't - sorry!! I'm still try to get my head around it all....

http://www.halifax.co.uk/mortgages/help-and-advice/existing-customers/how-we-manage-your-mortgage/default.asp

Suarez

jonny2510 wrote: »

Interesting!

I've just spoken to Halifax, whose explanation was first that the sub account 1 could be safely ignored - as it didn't apply to me!

When I further queried it, I was passed to a supervisor, and was told that when moving to the new system they couldn't move the old Mortgage Account Fee to the new system as it was, so they took £245 off the outstanding mortgage debt, to create sub account 98, then started charging interest to £245 in sub account 1????

Well that could be my problem solved. They could have put an explanation in the letter though.

Suarez

Has everyone's online balance disappeared too?

jonny2510

Yup, though there's a notice when you sign in that it could be gone for (3???) weeks :eek:

Annieddiva

Yes - I spoke to them yesterday and they say that it should be viewable again at some point in April - they won't commit to a date it will be completed by tho - I suppose in case they have system problems...

Turnipfarmer

Just been reading this thread and we are having the same issue with Halifax. We have a mystery amount in Sub account 1 and cannot find out from Halifax what this is. We have spoken to about 6 people on the phone and keep getting told we will receive a letter detailing exactly what sub account 1 is. When we took out a mortgage we had no additional fees only the £245 mortgage fee (sub account 98) and the mortgage amount (sub account 2).

This is really frustrating especially as we cannot get an answer from Halifax.

Anyone else had an update on this recently?

Andrea75

Mortgage_Holder wrote: »

I received a similar letter and called the number and they gave me a pretty clear explanation...

Sub Account 1 includes the product arrangement fee I took out when I took out the mortgage and also my insurance fees

Sub Account 2 is my mortgage debt

Sub Account 98 is my Mortgage Account Fee

The balance is still the same, they are just breaking down the way they are displaying it, which is how you'll now see it in future.

Hope this helps!

Hi there, did your mortgage offer detail exactly what fees you would incur and the actual figures? Just interested to know as mine didn't and when i looked online my sub-account 1 is over £1000 but it there's no explanation as to what this fee represents. Thanks for any feedback

Andrea75

Turnipfarmer wrote: »

Just been reading this thread and we are having the same issue with Halifax. We have a mystery amount in Sub account 1 and cannot find out from Halifax what this is. We have spoken to about 6 people on the phone and keep getting told we will receive a letter detailing exactly what sub account 1 is. When we took out a mortgage we had no additional fees only the £245 mortgage fee (sub account 98) and the mortgage amount (sub account 2).

This is really frustrating especially as we cannot get an answer from Halifax.

Anyone else had an update on this recently?

Hi Turnipfarmer, i've had the same problem as you with the mysterious sub-account 1. It's impossible trying to get through to Halifax on the phone, i've been on hold for at least 8 mins each time. I've submitted a complaint form on the website querying the sub-account fee and they will come back to me within 5 working days with a response. The fees on my mortgage offer was £158 but that was all that was detailed so i'm really interested to find out where these other costs have come from. So frustrating.:(

Turnipfarmer

Andrea75 wrote: »

Hi Turnipfarmer, i've had the same problem as you with the mysterious sub-account 1. It's impossible trying to get through to Halifax on the phone, i've been on hold for at least 8 mins each time. I've submitted a complaint form on the website querying the sub-account fee and they will come back to me within 5 working days with a response. The fees on my mortgage offer was £158 but that was all that was detailed so i'm really interested to find out where these other costs have come from. So frustrating.:(

Hey Andrea, thanks for getting back to me. Have you had any response from Halifax yet? We too are waiting for a letter from them explaining what it is.