Halifax SVR?

Ex-Spendaholic

Just a quick question. I've just finished on a capped rate with Halifax and had a letter to say I'm now on the SVR of 5%.

Is this the SVR after both of the interest cuts ie the half percent and then the subsequent 1.5% or is it likely that the 1.5% hasn't come off yet?

I've looked at their website but to no avail.

Thanks for any help.

beecher

Yes, it is after both interest cuts. It was 7% beforehand.

pigeonpie

I'm in the same Halifax boat as you with a fixed deal ending 1 Jan. My original mortgage contract says that when the fixed deal is up I would revert to their SVR but they can't charge more than 2% more than the BoE base rate unless they give 30 days notice. Has your contract got the same (looks standard) provision? So check with Halifax if interest rates go lower and you stay on their SVR whether they would pass that on to you or not - if you can get them to give you a straight answer. Did you contact them directly to ask them what the best deal they could offer you was now?
Do you know btw (sorry to mini hijack thread) if you stay on their SVR and decide to leave for a better offer, do they charge you a fee?