I've received a letter from halifax dated March 2013 detailing changes to a 'different mortgage system'.
It does mention that the mortgage may be made up of 'sub-accounts'.
The detailed statement does not show any 'sub accounts' just the one normal repayment mortgage.
However, the repayment amount each month, they have stated has gone up 4p! Yes it's a trivial amount, but it's the principle of the thing.
I called them 11-April-2013. They said they would call me with an answer. No such reply received, so I've chased it up today (18th).
The gentleman said they normally reply within 5 days, but I'm in a queue for up to 10 days.
He said he had a quick look and he said in his opinion, it's because over the years when Halifax go to take a payment, if it falls on a Sunday or Bank Holiday, then they have to take the payment the next day. As this will incur the slight bit of extra interest. Hence the 4p increase. He did state it's not my fault the payments are late. I said it's surely the halifax's fault not to work out the monthly payments correctly when you take out the mortgage?
I then said, this increase is surely going to affect every halifax mortage account holder. But he couldn't respond to that.
Anyone else got a similar story. It it just another case of the banks making a mistake and then billing their customers for it?
ChickenFeed
It does mention that the mortgage may be made up of 'sub-accounts'.
The detailed statement does not show any 'sub accounts' just the one normal repayment mortgage.
However, the repayment amount each month, they have stated has gone up 4p! Yes it's a trivial amount, but it's the principle of the thing.
I called them 11-April-2013. They said they would call me with an answer. No such reply received, so I've chased it up today (18th).
The gentleman said they normally reply within 5 days, but I'm in a queue for up to 10 days.
He said he had a quick look and he said in his opinion, it's because over the years when Halifax go to take a payment, if it falls on a Sunday or Bank Holiday, then they have to take the payment the next day. As this will incur the slight bit of extra interest. Hence the 4p increase. He did state it's not my fault the payments are late. I said it's surely the halifax's fault not to work out the monthly payments correctly when you take out the mortgage?
I then said, this increase is surely going to affect every halifax mortage account holder. But he couldn't respond to that.
Anyone else got a similar story. It it just another case of the banks making a mistake and then billing their customers for it?
ChickenFeed