Payments made during COVID payment holiday - Classed as overpayments?

PM321

Hello all,

Wondered if anyone can advise please. 

I have a mortgage with Halifax with a monthly repayment of £1600.  I took a 3 month COVID payment holiday in June-August last year.  But during those months I was still able to make varying payments of about £1000 per month, .  Back to full £1600 per month from September.

In January I also made an extra payment of £2000.

My employer gave the news in February that I'll be on reduced pay for at least 6 months, so I got back in touch with Halifax and asked for a further 3 months payment holiday.  I have made no extra payments this time around. 

The payment holiday will come to an end in June and I am going to struggle with making the repayments until I'm back on full pay, which could be a long time yet.

So would the £3000 during the first payment holiday, plus the £2000 in January, be classed as over-payments, if we are thinking of making underpayments from June?

Thank you for any info.  

MWT

After your first payment holiday, your monthly payments would have had to increase to make up the shortfall, if that didn't happen and you didn't change the term of your mortgage then the 'additional' payments you did make have been used to fill that gap.

Your term and your monthly payment could not remain the same after the first holiday otherwise...

Similarly when the current payment holiday ends, the payments will be higher than they were before to make up for the shortfall...

You should contact Halifax before the payment holiday ends to discuss options like extending the term of your mortgage to reduce the payments to a level you can afford perhaps?