Told Halifax mortgage ‘£29,500 in advance’?

Hoenir

Old-man-still-learning said:

I’m going to write to Halifax (I want there to be a written record of their response) and suggest that, with such a large overpayment being in evidence, perhaps the mortgage should be redeemed and any excess be paid into my current account

Unfortunately this will be a waste of both yours and their's time. The balance owing currently is what it is. 

Rather than paying interest at SVR . Your efforts would be better rewarded moving this onto a lower cost option immediately. 

MWT

Hoenir said:

Rather than paying interest at SVR . Your efforts would be better rewarded moving this onto a lower cost option immediately. 

With a balance below £10k and less than 2 years remaining on the term, I'm not sure there are many cheaper option out there...

I don't think Halifax have any fixed or tracker products below 2 years do they?

... but the OP also said:

"In December 2021, my previous interest only Halifax mortgage was expiring with a balance of approximately £17,500 left to pay.
I negotiated a new 5 year mortgage at that stage with an initial 2-year fixed at 1.57%.

My new payment at that time on the fixed rate was £302.54 pm. "

If that is true then there is more than 2 years left as a 5 year mortgage would not reach term until December 2026, unless the '5 year product' only ran up to, say June 2026, as is of course possible...

The payments and the balance certainly suggest there is just under 24 months to go...

In any event, taking another 2 year fix before now would have been worth considering at least...

Old-man-still-learning

Thanks guys. That is a little clearer. 

As you say, only the Halifax will know and I don’t want to antagonise them unnecessarily. 

I shall tread carefully and report back if there is anything of interest.  Cheers.

Edi81

What does your last mortgage statement (sent out annually) say?

Hoenir

Old-man-still-learning said:

As you say, only the Halifax will know and I don’t want to antagonise them unnecessarily. 

There's nothing mysterious going on. Most likely a misunderstanding / miscomprension in the moment depending on the questions asked and answers given. Halifax's records will be correct.