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Halifax clarity loan

chriz1
chriz1 Posts: 335 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
in Loans
About to apply for a Halifax clarity loan where I plan on making over payments when I do make over payments would this then mean that the monthly direct debits will reduce each time I do as it did with my old zopa loan

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Your question appears to be answered in condition 4.4 of the Clarity Loan Agreement example on their website.
  • David555
    David555 Posts: 66 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Monthly payments remain the same with Halifax clarity loans in the event of over payments. Just the duration of the loan will be reduced and your save some money in intertest by making over payments
  • Lau0707
    Lau0707 Posts: 74 Forumite
    I like Halifax's calculator on your account, I have a loan with them too, and you can log in, and click on over payment, then you can play around with figures, for example you type in £50, and it tells you what interest and duration will knock off for £50. Its probably something silly I get excited about but keeps me on track paying more off quickly, as i see it going down and down :) x
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