New Halifax deals for existing customers

beecher

Just a headsup for those on the SVR waiting for better deals.

http://www.halifax.co.uk/mortgages/newdeal.asp

They have 3,5 and 10 year fixed rates now. Not too tempted myself as yet but what is interesting is that those with low LTV aren't getting particularly better deals.

y3andy

Thanks Beecher. I'm one of these people about to go on their SVR at the end of the month and waiting for something decent to come along. The 3+5 year don't seem too bad except for that £1249 fee while the 10 year one looks naff TBH. I think I will play the waiting game a bit longer.

Your right about low ltv not being much better rate wise. With the 5 year fix the only difference between a 75% LTV and 95% LTV is an extra £250 product fee. Wouldn't be too happy with this if I had a low LTV.

I'm hoping that BOE rate goes down to 1%ish early next year and maybe Halifax may change these to around 5% without fees or low 4% with the same fee. I'd happily move onto a 5 year fixed at these rates.

sammyjammy

Y3Andy you've looked at the wrong section, you need to look at the section for existing customers, different rates and lower fees, no need for as good LTV either.

Sam

hearts

10 year fix at 5.49 looks quite tasty. ;-) I quite fancy this. The thing is with rates likely to remain low for a couple of years, its worth hanging on for a bit then hopefully jump on before they start rising. Easier said than done I suppose but you could certainly wait 9 months to a year.

y3andy

sammyjammy, the above link by OP is for exisiting customers?

feisty1

[quote=hearts;16923643]10 year fix at 5.49 looks quite tasty. ;-) .I suppose but you could certainly wait 9 months to a year.[/quote]

and do you think that product will be available then?

hearts

feisty1 wrote: »

[quote=hearts;16923643]10 year fix at 5.49 looks quite tasty. ;-) .I suppose but you could certainly wait 9 months to a year.[/quote]

and do you think that product will be available then?

That is the worry, but then again there is a good chance of better products in the future months as the banks become more open to lending. I hope. ;-)

beecher

I'm hoping that within the next 6 months there will be better deals available. It is all a gamble but I'm happy to stay on the SVR in the hope that a 5 year 4% fix appears in the next few months. I don't think that is unrealistic.

ashleyk

This is interesting we would like to get a ten year fixed deal as opposed to the two year deal they have been offering recently. I agree that there may well be better deals in a few months time but since we purchased our first property in 2007 any further significant fall in house prices over the next few months would put us in difficulty from an equity point of view. This will require some quick consideration since our current deal comes to an end at the end of this month and we were previously planning to just sit on the SVR for a while.

y3andy

If you move onto another deal with your existing lender do they give you another valuation to check your LTV?

ckp1975

My current deal with Halifax is ending at the end of this month.

I've just reserved the 3 year fixed (4.79%, £999 fee) but starting it on 1 April 2009 (the latest their system will allow at the moment, although website says products must start by 30 April 2009). In the meantime I'm on their SVR (4.75%), and can have the ability of moving over to a better product, should one be available during the 3 months period before my product starts.

I've done this because over the next few of years I need the security of knowing what my monthly repayments are. It also gives me some flexibility over the first quarter of 2009 in case interest rates drop again (likely!) and the banks actually pass this on in the form of new products (questionable!).

Hope this helps anyone who was confused as me as to what to do.