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    • puregeordie
    • By puregeordie 7th Feb 18, 8:24 PM
    • 166Posts
    • 96Thanks
    puregeordie
    Not taking interest out of account
    • #1
    • 7th Feb 18, 8:24 PM
    Not taking interest out of account 7th Feb 18 at 8:24 PM
    Hi, As title, this is a weird one I have had a mortgage for a while and all has been well then all of a sudden no interest is being taken from my mortgage, Bizarre or what. I just happen to log in and have a look for no reason as just out of the blue and they haven't took any interest off just for the the end of this month and who know's it may continue?

    I've done nothing to cause this and nothing has changed in my account, everything is the same and I continue to pay mortgage as normal so I have no ideas. Not my fault at all and I guess this is a good this of they don't want it as I pay my mortgage off quicker!!

    Anybody experienced this one?

    Thanks Peeps.
Page 1
    • Thrugelmir
    • By Thrugelmir 7th Feb 18, 9:20 PM
    • 58,528 Posts
    • 51,886 Thanks
    Thrugelmir
    • #2
    • 7th Feb 18, 9:20 PM
    • #2
    • 7th Feb 18, 9:20 PM
    Question for your lender. As sounds like a system malfunction rather than a free interest period. Your lender won't release the mortgage charge until the debt is settled either.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • puregeordie
    • By puregeordie 7th Feb 18, 9:43 PM
    • 166 Posts
    • 96 Thanks
    puregeordie
    • #3
    • 7th Feb 18, 9:43 PM
    • #3
    • 7th Feb 18, 9:43 PM
    lender won't release the mortgage charge until the debt is settled either.
    Originally posted by Thrugelmir
    Hi, What does this mean?

    No fault as its just one month so far, once mortgage is paid its paid I guess, 18 years to go as well!

    Its fixed for 2 years and I'm sure they'll notice and sort it eventually as they can't just take more than one months interest in one go as it is an error on the banks behalf.
    • BoGoF
    • By BoGoF 7th Feb 18, 9:54 PM
    • 3,140 Posts
    • 2,428 Thanks
    BoGoF
    • #4
    • 7th Feb 18, 9:54 PM
    • #4
    • 7th Feb 18, 9:54 PM
    Is the mortgage with Halifax by any chance?
    • puregeordie
    • By puregeordie 7th Feb 18, 9:57 PM
    • 166 Posts
    • 96 Thanks
    puregeordie
    • #5
    • 7th Feb 18, 9:57 PM
    • #5
    • 7th Feb 18, 9:57 PM
    yes it is.
    • BoGoF
    • By BoGoF 7th Feb 18, 10:01 PM
    • 3,140 Posts
    • 2,428 Thanks
    BoGoF
    • #6
    • 7th Feb 18, 10:01 PM
    • #6
    • 7th Feb 18, 10:01 PM
    You will probably find that interest is included in your current balance figure but for some reason it is not itemised for month of January.

    No interest is showing on my online banking but based on a spreadsheet I keep I know that the expected amount of interest has been added to my balance.
    • puregeordie
    • By puregeordie 7th Feb 18, 10:18 PM
    • 166 Posts
    • 96 Thanks
    puregeordie
    • #7
    • 7th Feb 18, 10:18 PM
    • #7
    • 7th Feb 18, 10:18 PM
    Hi, Looked at my current balance today and they have not took any interest off, so its not that either? Its now the 7th so it normally updates within a day anyways around the 1st/2nd.

    I've calculated it and all my monthly mortgage has come off the current balance also with no interest added for the past 2 months.

    thank you.
    • james86b
    • By james86b 8th Feb 18, 11:55 AM
    • 3 Posts
    • 0 Thanks
    james86b
    • #8
    • 8th Feb 18, 11:55 AM
    • #8
    • 8th Feb 18, 11:55 AM
    I'm also with Halifax, same has happened to my mortgage account, no interest showing for January, yet the February payment has come off and is showing in my statements,
    • Mahsroh
    • By Mahsroh 8th Feb 18, 11:56 AM
    • 339 Posts
    • 330 Thanks
    Mahsroh
    • #9
    • 8th Feb 18, 11:56 AM
    • #9
    • 8th Feb 18, 11:56 AM
    You will probably find that interest is included in your current balance figure but for some reason it is not itemised for month of January.

    No interest is showing on my online banking but based on a spreadsheet I keep I know that the expected amount of interest has been added to my balance.
    Originally posted by BoGoF

    Same here.
    • Dobbibill
    • By Dobbibill 8th Feb 18, 12:54 PM
    • 3,072 Posts
    • 3,994 Thanks
    Dobbibill
    Same with mine with Lloyds so it seems it's across the banking group.

    The figures have been adjusted so the interest is included in the total but not showing as a statement entry.
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    • BoGoF
    • By BoGoF 8th Feb 18, 1:41 PM
    • 3,140 Posts
    • 2,428 Thanks
    BoGoF
    I have a vague recollection of this happening sometime last year as well and the interest eventually appeared.

    It's odd that to make the current balance with interest figure arithmetically correct they adjust previous months balances to suit.
    • BoGoF
    • By BoGoF 8th Feb 18, 1:42 PM
    • 3,140 Posts
    • 2,428 Thanks
    BoGoF
    Would you believe it - my January interest is now showing
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 8th Feb 18, 2:15 PM
    • 1,334 Posts
    • 6,203 Thanks
    wishingthemortgaheaway
    Would you believe it - my January interest is now showing
    Originally posted by BoGoF

    Just checked & so is mine now. And it’s in the ‘correct’ place in the list of transactions too.
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 £1600ish/£2,500
    • puregeordie
    • By puregeordie 8th Feb 18, 8:21 PM
    • 166 Posts
    • 96 Thanks
    puregeordie
    Yes, Mine is now showing thank you. Bizarre or what!

    Thank you for replies and clarification.
    • Mahsroh
    • By Mahsroh 9th Feb 18, 8:37 AM
    • 339 Posts
    • 330 Thanks
    Mahsroh
    It's odd that to make the current balance with interest figure arithmetically correct they adjust previous months balances to suit.
    Originally posted by BoGoF

    Believe it or not, mine does this almost every month, but usually it lasts less than 24hrs before being corrected. This time it took 8days! Very odd indeed.
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