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If you already have a mortgage with the Halifax, we’ve made it simple to set up your next deal from home.
We’ll be in touch before your current deal ends to let you know about your options.
If you want to switch to a new deal, you can secure a new rate up to six months before your current one ends. You can start your new rate straightaway or wait until your current deal ends. If you choose to start your new deal straightaway and there's more than three months left on your current deal, you may have to pay early repayment charges.
If you decide not to switch, we’ll automatically move you onto one of our variable interest rates when your current deal ends. Staying on this variable rate may cost you more each month. And your interest rate and monthly payment could also go up or down from month to month. So, it’s a good idea to check if switching to a new rate is better for you – as if rates go up, you could end up paying more for your mortgage each month than you budgeted for.Back to top
Your offer letter will tell you the lender variable rate that will apply at the end of your current deal. This is usually the Halifax Homeowner Variable Rate. However, if you applied for your current deal before 4th January 2011 it could be the Halifax Standard Variable Rate. The Halifax Standard Variable Rate is no longer available so if you choose to switch deals, you will never be able to go back to the Halifax Standard Variable Rate.Back to top
If you're on a fixed rate:
You can arrange a new deal up to six months before your current one ends. Once you’ve arranged your deal and secured your interest rate, you can:
⦁ Wait until your current deal ends
⦁ Move to the new rate straightaway
If you move to your new rate and there are more than three months left on your current deal, we may charge you early repayment charges. Depending on your current monthly payments and the new deals available, you may save money by switching even if you need to pay early repayment charges. You can check how much these charges would be in your original offer letter, latest mortgage statement or by giving us a call 0345 727 3747.
If you’re on a lender variable rate:
You can arrange to switch to a new deal at any time without paying any early repayment charges.Back to top
Our current mortgage deals which we show you are based on how much you owe in relation to how much we think your property is worth. This is known as your loan to value (LTV) and it's expressed as a percentage figure. We also consider other factors when determining the rates we offer you.
If you check all our current deals we’ll show you all the deals which you are eligible to switch to - usually there are shorter term deals and longer term deals.
If you want to talk to a mortgage adviser for advice about your options you can give us a call or book an appointment in branch. It’s a good idea to make sure that everyone named on the mortgage can attend the appointment or call.Back to top
As a responsible lender we’ll make decisions based on understanding your individual circumstances. We’ll create tailored mortgage offers based on a number of factors; including your current credit score, usage of your accounts and in some cases, the energy efficiency of your property.Back to top
If you want to apply online it'll take about 10 minutes and you'll need your mortgage account number to hand. You'll only be able to apply online if you've a 14 digit account number. You'll have either a 14 digit account number or it'll start with 'A/'. Check your latest mortgage statement or sign in to Online Banking to view your mortgage account number. If you're not registered for Online Banking yet, it's easy and only takes about 5 minutes. Find out how to register.Back to top
If you apply online you will be able to view these documents online and accept your new deal electronically. You will also get paper copies in the post for your records.
If you apply over the phone then you will receive these documents in the post and by email (if you have provided an email address).
If you have any interest only borrowing and you are looking for a new deal, you must have a repayment plan in place and apply over the phone or in branch. We may ask you to provide suitable documentary evidence.
You will need to agree to proceed with your application before we can make you a formal offer.Back to top
When you agree to proceed with the application we will make you a formal offer. You should read your offer carefully to make sure you are still happy to go ahead. You do not need to do anything else unless you change your mind. We will send you a letter telling you when the transfer will take effect from and when we will start collecting your new monthly payment.Back to top
Details of any early repayment charges that may apply to you, and when they may be charged will be shown in your offer letter. After you have had your mortgage for a year, your annual statement will also tell you this, or you can call us on 0345 850 3705.
As a current concession, early repayment charges that would otherwise be triggered by the switch are waived if there are 3 months or less to run on your existing deal. This waiver does not apply to other transactions which might trigger the payment of an early repayment charge, such as a lump sum overpayment.
If your existing deal has more than 3 months left to run, you can still switch your deal, but the waiver would not apply, so you may have to pay early repayment charges.Back to top
If you switch with us, you won’t need to pay any legal fees or need a new valuation. Depending on the mortgage deal you choose, we may charge you a fee, called a product fee. You can pay this fee up-front, or you can add it to the total mortgage amount. If you add it to your mortgage, we’ll charge interest on it at the same rate as the rest of your borrowing. You can check our current deals for more information.Back to top
If you're looking to borrow more at the same time as switching to a new deal, or you want to make a change to the term or repayment type of your existing mortgage, you'll have to contact us to discuss your needs and circumstances with a qualified mortgage adviser.Back to top
When moving home, you'll need to apply for a new mortgage. However, you may be able to keep your existing Halifax mortgage deal, this is often called Porting. Find out more about moving an existing Halifax mortgage.Back to top
You can protect your mortgage with our Life and Body Cover. This type of insurance can give you the peace of mind of knowing that you and your loved ones will be able to keep your home if something happens to you. It could help to pay off your mortgage in the event of your death, or if you become too ill to work.
We have a range of options available to Halifax mortgage customers. Our Mortgage and Protection Advisers are on hand to discuss your needs and can help you to find the right level of cover for your needs.
You can find out more about protecting your mortgage, the cover we offer and how to get a personalised quote by visiting our Mortgage Protection page.Back to top