The mortgages offered by Halifax Bank of Scotland (HBOS plc) are the most popular in Britain – more people have mortgages with them than any other mortgage company.
With its huge marketing power and spread of services (including banking and estate agency), Halifax takes care of almost twice as much gross lending as its nearest competitor. The group currently has:
- around 22 million customers, including banking
- over £220bn out on loan to UK mortgage customers
- 179 different mortgages in its range
Thanks to its wide and varied product range, Halifax can offer mortgages to suit most kinds of applicants. However, it won't be the most competitive lender in every mortgage category! You can find out whether Halifax is competitive for you by speaking to an impartial adviser to get a whole of market comparison.
Halifax Mortgages In Detail
You now need at least a 5% deposit to get a Halifax mortgage—its maximum loan-to-value ratio of 97% has been scaled back to 95% in line with changing market conditions. Plus you need a salary-credited Halifax bank account if you are taking out a mortgage over 90% of your home's value.
Deals up to 95% LTV include a 10-year fixed rate mortgage at 6.99%. Although this rate has increased in recent weeks, these high value mortgages are still much in demand, so speak to an adviser today if you need one.
If you are borrowing 90% or less of the property value, rates are slightly more favourable. You could go for the 5-year fixed rate at 6.09% or a Variable Tracker starting at 6.19%. This deal, like many Halifax mortgages, offers flexible features – an overpayment option, and the possibility of a 6-month payment holiday.
Halifax reserves the best mortgage rates for those with at least 25% deposit (or equity). It offers 118 different kinds of residential mortgage, with product fees ranging from £199 to over £1000. Talk to an adviser to help make sense of this huge range!
Halifax Remortgages
You can get a Halifax remortgage starting from 6.19% on a 5-year Tracker deal. This has a £999 arrangement fee and early repayment penalties until 2013.
For those with 25% equity or higher, there is even a 4.99% fixed-rate remortgage with a £999 application fee... but that rate expires in August 2009.
There are 53 different Halifax remortgage options, so to get the right one it would be wise to take impartial advice.
Choosing a Halifax Mortgage
With such a range of products to be compared, and with competitive deals disappearing quickly at the moment, we highly recommend speaking to an impartial mortgage adviser.
They compare the whole market for you, to make sure you don't miss the right deal. What's more, they can do this in minutes, whereas for most people it would take weeks!
Using the simple and secure enquiry form, you can get a free call back from an adviser. They can compare for you not just Halifax mortgages but the whole of the UK mortgage market. You will not be charged for using this service.
Fill in the secure, 1-minute enquiry form to get a free call back with no obligation.