Halifax HomeOwner Loan - How to pay?

powerful_Rogue

Waiting times to speak to someone at Halifax are horrendous at the moment (and understandbly so), so thought I would ask on here.

Got a HomeOwner loan with the Halifax around 12 years ago. Now looking at paying it off, however can't see any option within my online banking to do so. Got the options to make a payment towards my mortgage, mortgage sub accounts, ISA, Savings account etc - but the HomeOwner loan is not mentioned.

Searched the Halifax website and can only see information regarding personal loans.

Just wondered if anyone had recently had a HomeOwner loan and how you made a payment towards it.

MinuteNoodles

Do you still have the documentation that you got when you took it out? If so time to drag it out as it should be on there.

jonesMUFCforever

Is the Homeowner loan attached to your mortgage?

powerful_Rogue

MinuteNoodles said:

Do you still have the documentation that you got when you took it out? If so time to drag it out as it should be on there.

No idea where it is now, probably in the loft somewhere!

powerful_Rogue

jonesMUFCforever said:

Is the Homeowner loan attached to your mortgage?

It's secured against the house, but does not show under mortgages on the App.

HomeOwner Loan £xxxx

Mortgage £xxxxxx

- sub account 1 £xxx

- sub account 2 £xxx

sourcrates

Was it a secured loan ?

If so, interest is charged right up to the point of settlement, and is usually at a variable rate, you would have  to contact there specialist home loan team, to get an up to date figure for settlement, may be tricky just now.

powerful_Rogue

sourcrates said:

Was it a secured loan ?

If so, interest is charged right up to the point of settlement, and is usually at a variable rate, you would have  to contact there specialist home loan team, to get an up to date figure for settlement, may be tricky just now.

Yes, it's a secured loan.

Ah, I thought as much. No worries, will leave it till things ease up a bit. No huge rush to pay it off just yet.

jonesMUFCforever

powerful_Rogue said:

sourcrates said:

Was it a secured loan ?

If so, interest is charged right up to the point of settlement, and is usually at a variable rate, you would have  to contact there specialist home loan team, to get an up to date figure for settlement, may be tricky just now.

Yes, it's a secured loan.

Ah, I thought as much. No worries, will leave it till things ease up a bit. No huge rush to pay it off just yet.

I would have thought that depended on the rate you are charged on the loan - with savings rate so low there are not many options that make servicing a debt the best thing to do.

powerful_Rogue

jonesMUFCforever said:

powerful_Rogue said:

sourcrates said:

Was it a secured loan ?

If so, interest is charged right up to the point of settlement, and is usually at a variable rate, you would have  to contact there specialist home loan team, to get an up to date figure for settlement, may be tricky just now.

Yes, it's a secured loan.

Ah, I thought as much. No worries, will leave it till things ease up a bit. No huge rush to pay it off just yet.

I would have thought that depended on the rate you are charged on the loan - with savings rate so low there are not many options that make servicing a debt the best thing to do.

We're possibly looking at moving, and currently got 3 years left tied into the Mortgage. I can pay 10% off the mortgage, but would alos be looking at clearing the secured loan from savings.