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Halifax Payment Holiday Finishing
tillysmom
Posts: 5 Forumite
Evening All,
After some help please. We took a three month mortgage holiday due to Covid-19 due to me being put on shorter hours as my employer wouldn't furlough me.
Today we have received a letter from Halifax notifying us that our payment holiday is coming to an end, I have now gone back to my normal hours so don't need to continue with the payment holiday (hooray). My concern is that the letter states our new payment will be £553.56 and has the expected rhetoric about having to cover the higher balance as no payment being made etc... problem being our payment before taking the holiday was £631.82. OH hasn't got a clue where money is concerned and can't understand why I am getting in a state, but I just don't understand why the new payment is nearly £80/mth lower. I know I should be happy that we'll be paying less, but I'm just not feeling right about it. I have logged onto our online account and the term is still the same so they haven't extended it or anything like that.
I suppose my questions to you lovely helpful people are:
A) Should I phone the Halifax and query the amount?
or
Do nothing and just keep pay the lower amount?
Thank you for taking the time to read this.
After some help please. We took a three month mortgage holiday due to Covid-19 due to me being put on shorter hours as my employer wouldn't furlough me.
Today we have received a letter from Halifax notifying us that our payment holiday is coming to an end, I have now gone back to my normal hours so don't need to continue with the payment holiday (hooray). My concern is that the letter states our new payment will be £553.56 and has the expected rhetoric about having to cover the higher balance as no payment being made etc... problem being our payment before taking the holiday was £631.82. OH hasn't got a clue where money is concerned and can't understand why I am getting in a state, but I just don't understand why the new payment is nearly £80/mth lower. I know I should be happy that we'll be paying less, but I'm just not feeling right about it. I have logged onto our online account and the term is still the same so they haven't extended it or anything like that.
I suppose my questions to you lovely helpful people are:
A) Should I phone the Halifax and query the amount?
or
Do nothing and just keep pay the lower amount?Thank you for taking the time to read this.
1
Comments
-
Are you on a fixed or variable rate interest?
Mortgage started 2020, aiming to clear 31/12/2029.0 -
Sounds strange. Wonder if the letter is correct. If you can afford to continue to pay the old amount. Start to build a buffer in any event.0
-
Hi Moving Towards,MovingForwards said:Are you on a fixed or variable rate interest?
We're on a fixed rate till Mar2021 with 2 1/2 years left on mortgage.1 -
Hi Thrugelmir,Thrugelmir said:Sounds strange. Wonder if the letter is correct. If you can afford to continue to pay the old amount. Start to build a buffer in any event.
I know, that's my thoughts. I have budgeted for the higher amount anyway, just don't know whether to contact Halifax and ask or do as you suggest and save a buffer for when the fixed rate ends.0 -
I would phone them, get it sorted out as I wouldn't want it to be sorted out at the wrong time. That's just me though 😁Mortgage started 2020, aiming to clear 31/12/2029.0
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