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How easy is it to underpay mortgage ?
Dave360180
Posts: 137 Forumite
Hi all
I’m trying to figure out how large an emergency fund I need. I’ve overpaid my mortgage a bit (Halifax) and understand I can therefore underpay to that extent in future. So slightly smaller emergency find needed.
How easy is this really ? Is it just a phone call and cancel direct debit ? Can they refuse ? Does it mess up your credit card rating ? Anything else ?
Any advice ?
I’m trying to figure out how large an emergency fund I need. I’ve overpaid my mortgage a bit (Halifax) and understand I can therefore underpay to that extent in future. So slightly smaller emergency find needed.
How easy is this really ? Is it just a phone call and cancel direct debit ? Can they refuse ? Does it mess up your credit card rating ? Anything else ?
Any advice ?
0
Comments
-
Cancel the direct debit and pay by standing order. Just make sure you get your sums right.
Having overpaid already. Why not continue to allow the benefit to grow? Find savings from elsewhere in your budget.0 -
Thanks. Just wanted to check it would be possible to easily underpay in an emergency - I’m not actually planning to.0
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