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Overpayment of Mortgage Debacle with Halifax
Comments
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It's no big issue. They recalculate your repayment once a year then you go onto your online account and change the overpayment again.
Takes minutes.1 -
I had exactly the same issue with Halifax and had overpaid the maximum. They just kept dropping my monthly repayment and the FCA felt they did nothing wrong. 14 months then I can be free of them forever. People saying to adjust the monthly payment but this will not work for me as I am already at the maximum overpayment
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Sounds correct or you'll be paying more ercs
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The Halifax seems unusually difficult. It should be a simple box tick choice - reduce term or reduce monthly payment. I had to ring HFax this week about something else. It took 35 minutes. I'm surprised Martin hasn't taken it up. Mortgages are the biggest debt for most people and reducing the debt should be easier. Could it be HFax are trying to create an opportunity to force conversations about selling Life Insurance/Home Insurance etc? . If Nationwide and NatWest can do it simply, why not HFax? Fair, transparent dealings needed.
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