Remortgaging

Got your mortgage with another lender and looking for a better deal?

We offer great value remortgage deals if you're not moving home but want to move your mortgage to us.

1.Thinking of moving your mortgage to the Halifax?

Take a look at the things you'll need to think about when remortgaging to the Halifax.

 

2. Can you get a better deal with us?

Use our online calculators to get an idea of how much you could borrow and compare monthly payments

 Mortgage calculators 

     

3. Ready to start your application?

You’ll need an Agreement in Principle with us before you can start your full mortgage application. If approved, it'll give you an indication of how much you could borrow.

There's no charge for this, and no obligation to apply for your mortgage with us..

 Get an Agreement in Principle 

 

4. Want to move your mortgage to us?

Make sure you’ve completed your Agreement in Principle with us. Then you’ll need to speak to one of our mortgage advisers to continue with your full mortgage application.

You can call us on 08458 50 37 05 or come into branch.

What happens next?

5. You'll need to complete your mortgage application with a mortgage adviser

Average time: 2 hours
If you're applying with someone else, make sure you’re both available because it'll save time.

You'll need to:

Prepare the documents you’ll need such as pay slips, recent bank statements, details of any financial commitments or bonus, and proof of your identity
Have details of the property you want to remortgage.

Your mortgage adviser will:

Review your income and commitments
Ask about your needs and circumstances and then recommend our most suitable mortgage for you
Give you a Key Facts Illustration, which sets out the terms of the mortgage product and the total cost of the loan
Complete background checks with a Credit Reference Agency

We'll appoint a valuation surveyor and arrange for the property to be valued. We'll check the valuation report to make sure the property is worth enough to offer the loan you've asked for.

When all this is done and if everything is okay, we’ll write to make you a mortgage offer.

6. The legal process

Remortgages come with our 'Remortgage Service' where we’ll pay our own legal fees and won’t charge you for the property assessment. Our Remortgage Service is only available for mortgages on properties in the UK (excluding the Isle of Man). If you seek additional legal advice as part of your remortgage, you must arrange to pay for these services yourself.

The legal side of the transfer of your mortgage to another lender is carried out by either a 'solicitor' or 'licensed conveyancer', for simplicity we refer to both of these as 'conveyancer'.

The conveyancer will check your mortgage offer and carry out our Land Registry/Registers of Scotland searches on the property. They'll draw up and ask you to sign the mortgage deed.

The conveyancer will ask your current lender for the amount still owed on your mortgage, and ask us to send them this money.  On the day of completion they’ll send this amount to your current lender.

7. Completing your remortgage

We'll send a letter to tell you the mortgage has started.

Need to talk to us?

Need to talk to us?

You can speak to one of our mortgage advisers in person, or chat things over on the phone.


Call us on 08458 50 37 05
Monday to Friday 8am - 8pm and Saturday 9am-4pm.


Come into branch - you'll need to book an appointment beforehand

FAQs

What is 'remortgaging' and how does it differ from 'switching to a new deal'?
How long is the remortgaging process?
How much could I borrow?
What costs are involved in remortgaging?
How does an Agreement in Principle differ from a mortgage offer?
What type of properties will you lend on?
Is there a minimum property value?
What should I consider when applying for a mortgage?
What insurance will I need?
What happens at the end of my mortgage deal?
What happens if I want to move home in the middle my a mortgage deal? 


What is 'remortgaging' and how does it differ from 'switching to a new deal'?

Both ‘remortgaging’ and ‘switching deal’ are terms that refer to customers switching from an existing mortgage deal to a new one.

Remortgaging is for those wanting to switch their mortgage from one lender to another. Switching deal is for customers who want to switch to a new deal with their existing lender. Customers staying with their existing lender do not normally need to go through the remortgage process. We'll be able to advise you when you contact us..

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How long is the remortgaging process?

On average it takes 4-8 weeks to complete a remortgage.

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How much could I borrow?

We'll only lend you a certain percentage of the property valuation. You may not need to pay a deposit and you may be able to borrow more than you currently owe. This will depend on the property valuation and how much you owe on your current mortgage, as well as how much we think you can afford to borrow.

Use our mortgage calculators to see how much you could borrow and what your monthly payments might be. Or, to get a better indication we can provide you with an Agreement in Principle.

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What costs are involved with remortgaging?

You may be charged a mortgage account fee which is an interest-free fee charged on new mortgage completions. Depending on the mortgage product, there may be a product fee to pay. You'll need to check our current rates for full details. Any product fees can be added on to your mortgage on completion. There could be other charges and standard costs which you may have to pay during the course of setting up your mortgage. You'll be charged interest on any fees, charges and standard costs added to your loan, unless we tell you otherwise.

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How does an Agreement in Principle differ from a mortgage offer?

An Agreement in Principle, also known as a 'Decision in Principle' or 'Mortgage Promise', is useful if you haven’t found a property you want to buy but would like to know how much you could borrow. All we need is a few personal details about you and anyone else who will be named on the mortgage. Then we’ll contact a credit reference agency for a credit search and give you a credit score. If you reach our pass mark, we’ll give you a certificate so that you can show the seller you can get a loan. Other lenders will be able to see that we've made an enquiry about you, but this should not affect your ability to get a loan from them.

A mortgage offer is issued by a lender once your mortgage application has been received and the necessary checks, such as the property valuation and confirmation of your details, have been carried out. It sets out the terms under which the lender is prepared to offer you a loan.

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What types of properties will you lend on?

We'll consider lending you money for different types of property. We may ask you to provide a bigger deposit on some types of property than others. Any loan we make will be subject to a satisfactory property assessment by a surveyor of our choice.

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Is there a minimum property value?

While we'll consider many types of property, we've a responsibility to ensure that a property is suitable security for a mortgage. As a result, we'll not lend against properties where the valuation is below £40,000.

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What should I consider when applying for a mortgage?

Mortgages can last for a long time, so it's important you get the one that's right for you. You'll need to think about such things as the type of loan, how long you want it for and what type of product you'd like.

Methods of repayment - there are three different ways of repaying your mortgage. These are repayment, interest-only, and a combination of repayment and interest-only.

Mortgage terms - mortgage terms of up to 40 years are available. How long the mortgage lasts will affect your monthly payments and the total cost of the mortgage. With a repayment mortgage, the longer the term, the lower the monthly payment. However, it'll take you longer to pay off the loan so you will pay more interest. This means it'll cost you more over the life of your mortgage. With an interest-only mortgage, the length of the term makes no difference to the monthly payments because these are only paying off the interest charges and not the loan itself. With an interest-only mortgage your mortgage term needs to match the time when you will have enough money in your repayment plan(s) to repay the loan.

Mortgage products - we may have different types of mortgage products with different types of interest rates. These change from time to time and we'll give you details of the current range when you apply.

Product incentives - from time to time we may offer mortgage products that include an incentive. The interest rate for products with incentives may sometimes be slightly higher than for products without incentives. So you'll need to consider whether the incentive available at the start of the mortgage is more important to you than the slightly lower interest rate you may get during the product rate period without the incentive.

Your mortgage adviser will ask you about your preferences and discuss your needs and circumstances before deciding which mortgage to recommend to you.

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What insurance will I need?

It's a requirement of your mortgage to have buildings insurance. This covers the bricks and mortar, fixtures and fittings. It's also a good idea to take out contents insurance as well - this protects all your possessions in your home, from furniture to jewellery.

You may want to look into insurance to protect your mortgage for example Life Cover and Critical Illness Cover.

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What happens at the end of my mortgage deal?

When you take out your mortgage, you arrange to have a fixed or variable rate product for a period of time. At the end of this time, the product will end and your loan will usually be transferred to one of our lender variable rates. At this point, you may choose to move it to a new product for a further period of time.

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What happens if I want to move home in the middle of my mortgage deal?

It's sometimes possible to take a product with you to a new mortgage - we call this 'porting‘. Your Key Facts Illustration and offer letter will say if any of your products are portable.

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Special offers for remortgaging

At Halifax we're committed to providing our customers with a little extra help.

That's why selected remortgages come with our Remortgages Service where we'll pay our own legal fees and won't charge you for the property assessment.

Our Remortgage Service is only available for mortgage on properties in the UK (excluding the Isle of Man). If you seek additional legal advice as part of your remortgage, you must arrange to pay for these services yourself.

 View current rates 


Take out a Halifax mortgage and we'll reward you with £150 cash back if you hold a qualifying Halifax current account.

To qualify you'll need to:

  • Hold a Halifax Reward Current Account OR
  • Halifax Ultimate Reward Current Account OR
  • Any BoS Current Account OR
  • Switch your current account to us using our dedicated Current Account Switch Service and do one of the above.

Current accounts are available subject to status to customers aged 18 or over who are resident in the UK.

The £150 cashback is paid through your conveyancer on completion of your mortgage. Please note that this offer is not available on the following selected mortgages: Large Loans (£1m +), Buy to Let, Consent to Lease, Negative Equity, Product Transfer, Further Advance, Shared Equity, Shared Ownership, Halifax Concessionary Staff Scheme & third party applications through mortgage brokers or intermediaries.

 Compare bank accounts 

Current rates

These are our current fixed rate mortgages available today. There'll only be certain deals which fit your mortgage amount and your loan to value band. When you apply for a mortgage, our mortgage advisers will ask you about your needs and circumstances and then recommend our most suitable mortgage for you.


Mortgages up to £1 million

Term Initial rate Halifax Homeowner Variable rate thereafter For the remainder of the term from The overall cost for comparison is Product fee Loan to value(LTV)Early Repayment Charges until Mortgage amount

Extra benefits 

2 years 1.59% Currently 3.99% 31/05/2017 3.8% APR £1,995 0-60% 31/05/2017 £200k-£1m Halifax Remortgage Service*
2 years 1.79% Currently 3.99% 31/05/2017 3.7% APR £495 0-60% 31/05/2017 £0-£1m Halifax Remortgage Service*
2 years 1.99% Currently 3.99% 31/05/2017 3.6% APR £0 0-60% 31/05/2017 £0-£199,999 Halifax Remortgage Service*
2 years 2.09% Currently 3.99% 31/05/2017 3.9% APR £1,995 60-75% 31/05/2017 £200k-£1m Halifax Remortgage Service*
2 years 2.29% Currently 3.99% 31/05/2017 3.8% APR £495 60-75% 31/05/2017 £0-£1m Halifax Remortgage Service*
2 years 2.49% Currently 3.99% 31/05/2017 3.8% APR £0 60-75% 31/05/2017 £0-£199,999 Halifax Remortgage Service*
2 years 2.69% Currently  3.99% 31/05/2017 3.8% APR £495 75-80% 31/05/2017 £0-£1m Halifax Remortgage Service*
2 years 2.89% Currently  3.99% 31/05/2017 3.8% APR £0 75-80% 31/05/2017 £0-£1m Halifax Remortgage Service*
2 years 2.94% Currently  3.99% 31/05/2017 3.9% APR £495 80-85% 31/05/2017 £0-£1m Halifax Remortgage Service*
2 years

3.14%

Currently  3.99% 31/05/2017 3.9% APR £0 80-85% 31/05/2017 £0-£1m Halifax Remortgage Service*
5 years

2.99%

Currently 3.99% 31/05/2020 3.6% APR £495 0-60% 31/05/2020 £0-£1m Halifax Remortgage Service*
5 years 3.19% Currently 3.99% 31/05/2020 3.7% APR £0 0-60% 31/05/2020 £0-£1m Halifax Remortgage Service*
5 years 3.44% Currently 3.99% 31/05/2020 3.9% APR £495 60-75% 31/05/2020 £0-£1m Halifax Remortgage Service*
5 years 3.64% Currently 3.99% 31/05/2020 3.9% APR £0 60-75% 31/05/2020 £0-£1m Halifax Remortgage Service*
5 years 3.78% Currently 3.99% 31/05/2020 4.0% APR £495 75-80% 31/05/2020 £0-£1m Halifax Remortgage Service*
5 years 3.98% Currently 3.99% 31/05/2020 4.1% APR £0 75-80% 31/05/2020 £0-£1m Halifax Remortgage Service*
5 years 4.19% Currently  3.99% 31/05/2020 4.2% APR £495 80-85% 31/05/2020 £0-£1m Halifax Remortgage Service*
5 years 4.39% Currently  3.99% 31/05/2020 4.3% APR £0 80-85% 31/05/2020 £0-£1m Halifax Remortgage Service*


Mortgages over £1 million

Term Initial rate Halifax Homeowner Variable rate thereafter For the remainder of the term from The overall cost for comparison is Product fee Loan to value(LTV)Early Repayment Charges until Mortgage amount

Extra benefits 

2 years 2.69% Currently 3.99% 31/05/2017 4.0% APR £1,995 0-60% 31/05/2017 £1m-£5m Halifax Remortgage Service*
2 years 3.09% Currently 3.99% 31/05/2017 4.1% APR £1,995 60-70% 31/05/2017 £1m-£5m Halifax Remortgage Service*
2 years 3.39% Currently 3.99% 31/05/2017 4.2% APR £1,995 70-80% 31/05/2017 £1m-£2m Halifax Remortgage Service*
5 years 3.59% Currently 3.99% 31/05/2020 4.1% APR £1,995 0-60% 31/05/2020 £1m-£5m Halifax Remortgage Service*
5 years 3.98% Currently 3.99% 31/05/2020 4.3% APR £1,995 60-70% 31/05/2020 £1m-£5m Halifax Remortgage Service*


Our rates are only guaranteed for applications made today. We reserve the right to change our product range at any time.

* The Halifax Remortgage Service is only available for mortgage on properties in the UK (excluding the Isle of Man). We'll pay our own legal fees and won't charge you for the property assessment. If you seek additional legal advice as part of your remortgage, you must arrange to pay for these services yourself.


How to apply

Get an Agreement in Principle

You’ll need to complete an Agreement in Principle with us before you can start your full mortgage application. It tells you whether we can offer you a mortgage.

We'll ask you to provide a few personal details about you and anyone else who will be named on the mortgage. We'll contact a credit reference agency for a credit search and give you a credit score. If you reach our pass mark, it'll give you an indication of how much we could lend you.

To complete your Agreement in Principle, you'll need the following:

  • Address details for the last 3 years
  • Employment and income details for the last 18 months
  • Any outstanding financial commitments

There's no charge for this and no obligation to apply for a mortgage with us.

 Get an Agreement in Principle 

Begin your full mortgage application

Once you've completed your Agreement in Principle, you'll need to speak to one of our qualified mortgage advisers. Your mortgage adviser will ask about your needs and circumstances and then recommend our most suitable mortgage for you. They'll discuss the next steps in the application process and answer any queries you may have.

You can speak to one of our mortgage advisers in person, or chat things over on the phone. You can call us on 08458 50 37 05 or come into branch but you'll need to book a branch appointment beforehand.

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