Halifax mortgage gone up 4p for no good reason

james3333

anyone shed more light on my post above ( in REALLY) simple terms?
ta.

ACG

Some lenders, if you make over payments will just presume your doing it to bring the repayments down in general after the anniversary. I used to work for co-op mortgages, they did this.

Just give them a call and tell them you want to keep your repayments as they were and bring the term down instead.

james3333

ACG wrote: »

Some lenders, if you make over payments will just presume your doing it to bring the repayments down in general after the anniversary. I used to work for co-op mortgages, they did this.

Just give them a call and tell them you want to keep your repayments as they were and bring the term down instead.

so, is THIS the answer?
all those overpayments i have made have been a waste of time then....?????:mad: can i complain about this with them and get them to re look at the situation?

maninthestreet

4p a month? That's 48p a year, a whole £12 over 25 years!

Dave_the_Ginger_Cat

mrtoys wrote: »

How can they just put it up!!??? That surely was not the agreement in the first place

The terms if most (if not all) mortgages allow them to recalculate the mortgage on a periodic basis to ensure that the repayments are right and you'll mature without an amount owing. Typically these are annual, driven by rate changes (remember those, folks?), or in this instance by a system change. Odd pence are often (as he said) due to the vagaries of when payment dates fall compared with weekends and other non-working days

To do an evaluation for the OP's case would need someone to look at every single payment which has been made and each mortgage rate change the loan was taken. It takes a long time to do, and probably proves the weekend case.

OP - have a look at your statement - I believe a number of customers received small ex-gratia payments to cover this type of event (my online statement shows as £5.00 Goodwill payment) and I remember something in the letter about this.

I could recommend some new absorbing hobbies, or helping out at one of the money advice centres

bodmil

Goldiegirl wrote: »

My suggestion to the OP.

Get yourself an interesting new hobby. You clearly have too much time on your hands if you can spend all that time and effort about 4p

Very rude, particularly when plenty of MFWers are working their socks off for a few pence reduction in their daily interest. Every little helps, and the OP is right, it's the principle, if they can find an excuse to put it up 4p, what's to stop the next excuse?

ACG

james3333 wrote: »

so, is THIS the answer?
all those overpayments i have made have been a waste of time then....?????:mad: can i complain about this with them and get them to re look at the situation?

Some lenders do this, it could be the answer, it may not be. Ask them.

Why do you need to complain? ASK them to redo your payments to reduce the term. There should be no need to get irate, if thats their process then they should be able to put it back with a simple call.

_Andy_

Absolutely tragic.

bigadaj

bodmil wrote: »

Very rude, particularly when plenty of MFWers are working their socks off for a few pence reduction in their daily interest. Every little helps, and the OP is right, it's the principle, if they can find an excuse to put it up 4p, what's to stop the next excuse?

Well it could be 8p next time! Assuming your earning at minimum wage then that could be worth you disputing for what about a minute of your time before you've spent more than you've saved.

Goldiegirl

bodmil wrote: »

Very rude, particularly when plenty of MFWers are working their socks off for a few pence reduction in their daily interest. Every little helps, and the OP is right, it's the principle, if they can find an excuse to put it up 4p, what's to stop the next excuse?

What's rude about making a suggestion?