Need to borrow more?
Whether you're looking to borrow more on your existing mortgage for home improvements or a special purchase, we've a range of deals available for you.
Just remember when applying for additional borrowing:
- You must have had a Halifax mortgage for more than 6 months
- Your payments must be up-to-date for the three months before you apply
- Maximum you can borrow in total, with the existing mortgage and additional borrowing, is 80% of the value of your property
- £99 arrangement fee
- Arrangement and product fees can be added on to your additional borrowing on completion but you'll be charged interest on the fees
- Additional borrowing is subject to valuation, income, affordability and credit checks – it may be worth checking with a credit agency before contacting us
Not available on existing Halifax Buy to Let or Halifax Retirement Home Plan mortgages.
Our rates are only guaranteed for applications made today. We reserve the right to change our product range at any time.
These products are available for additional borrowing applications only. Customers who are looking to transfer their existing mortgage onto a new deal can select a product from our range of mortgage deals for existing Halifax customers.
*If you’re borrowing 75% or less of your home’s value, you can arrange your mortgage on an interest-only or repayment basis. If you want to borrow more than 75%, only repayment mortgages are available.
If you’ve any interest-only borrowing and you’re looking for a new deal, you must have a repayment plan in place.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
This information doesn't contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision.
Need some help?
Our rate tables explained
Fixed rate table
|Halifax Homeowner Variable Rate thereafter||For the remainder of the term from||The overall cost for comparison
|Product fee||LTV||Early Repayment Charges until||Loan amount|
|2 Years||x.xx%||Currently x.xx%||31/01/2014||x.x% APR||£995||0-60%||31/01/2014||£0-1m|
Term - The term is the approximate length of your mortgage deal. Depending on when your mortgage starts, the actual term could be slightly longer or shorter than that stated. The exact date this rate will finish can be found in the ‘For the remainder of the term from’ column.
Initial rate - This is the initial rate of interest, which is charged on your mortgage during the fixed-rate deal period. Find out more about fixed rate mortgages.
Halifax Homeowner Variable Rate thereafter - When your initial rate ends you will automatically move onto the Halifax Homeowner Variable Rate (HHVR). When this happens the HHVR could be higher or lower than the initial rate of your mortgage deal. If you do not want to automatically move onto the HHVR you could choose to switch to other mortgage deals available at that time.
For the remainder of the term from - This shows the date that your initial rate finishes and when your mortgage will move onto the Halifax Homeowner Variable Rate, unless you choose to switch to a new deal at that time.
The overall cost for comparison is - This column shows the ‘Annual Percentage Rate’ (APR) for the product. This takes into account all the costs of a mortgage – giving you the ‘overall cost for comparison’. An APR is calculated in a standard way to allow you to compare different mortgage offers, including those from other lenders.
The APR includes important factors such as:
- The initial interest rate you must pay
- How you repay the loan
- The full length of the mortgage term
- Frequency and timing of mortgage payments
- Certain fees associated with the mortgage.
Product fee - This column indicates if the mortgage has a product fee and how much it is for this particular deal. Generally the higher the product fee, the lower the initial interest rate.
LTV – stands for loan to value. This is the proportion of the value or price of the property (whichever is the lower), that you borrow on a mortgage. For example, a £90,000 mortgage on a house valued at £100,000 would mean a LTV of 90%
Early Repayment Charges until - Some Halifax mortgages may carry charges if you repay, part repay, or switch to a different mortgage within a certain period - these are called Early Repayment Charges. This column shows the date that the charge applies until. The charges will be a percentage of the amount borrowed, though that percentage could be different year-on-year - full details of Early Repayment Charges can be found in your Key Facts Illustration.
Loan amount - This shows the range within which you can apply for borrowing on this mortgage rate. In the above example, you would not be offered the mortgage rate if you wanted to borrow more than £1 million.