Mortgage Interest query

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I wonder can anyone explain this for me or shall I ask my branch? I have a Halifax mortgage which had a higher fixed rate until November 2013 at that time I was making monthly payments of £515 and my interest was averaging at £170. When my interest rate changed I am now being charged around £120 interest, a reduction of £50 and yet my payment is £492 a reduction of only £23,, why is this??

Dave_the_Ginger_Cat

I'd ask the branch - there are many reasons that this type of change can occur and without seeing every transaction on all of your sub accounts, it's hard to comment

Slowly_does_it..

Halifax customer here, just to say that the answer you will get from asking in branch is "Please phone our mortgage team on XXX"

I am overpaying monthly, and when my higher interest ended the monthly payments remained the same.

Foxy-Stoat_3

I think you have your figures round the wrong way...

My Halifax mortgage payments where £650 pm last year. I paid £7,800 for 12 months and the capital that I paid off was around £2300...and who said renting was dead money !