Halifax Standard Variable Rate

Victoria17

Hello everyone,

I'm not on any mortgage deal at the moment. I've been on Halifax's Standard Variable Rate for months. Is that a really bad move? It's at 4.5% at the moment, which is quite low, but would i be on an even lower rate if i reorganised my mortgage with Halifax?

Thanks for your advice, i don't know much when it comes to Mortgages... :rolleyes:

Victoria

beecher

I'm on it too. Halifax's fixed rates are all above the SVR at the moment, and when I factor in arrangement fees it isn't worth my while fixing at the moment. It depends on your LTV (Loan to Value) though - if you're close to negative equity your choices are going to be different.

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

Shows you the deals available

herbiesjp

Well, the options available to you will depend on a realistic value of your property along with the current mortgage balance

If you are borderline on one of the tiers that lenders set for rates i.e 60%, 65%, 75% etc, then you may want to look at getting onto a new deal simply becuase if house prices continue to fall, it may mean falling into a different tier, and then not being eligible for the lower rates.

Not all lenders have the same rates at the same tiers, so you would need to look around at what is available after having looked at what Halifax could offer you