Halifax cut SVR to 3.5%

AngelaUK

Has been announced on their website, am really surprised how quick they have put it on there this time, I for one am happy as I came off a fixed of 4.98% end of December and my rate has gone down every month since. :beer:

beecher

Well spotted - I thought the BBC would report it first. I came off my fixed rate in December too - good timing for once!

Smurggle

I am so impressed, well it looks like those credit cards are going to get paid off even quiker- yay!

Rikki

I can't seem to find out the woolwich svr rate. I can't find it on their mortgage page or barclays.

Niksan

It seems Lloyds will be moving theirs to 2.5% (currently 3.0%) if their no more than 2% above base rate continues.

payless

yes lloyds announced this yesterday ( like they have a choice!.. its in their own T&C) .. personally think its poor of Halifax not to honour their original base + 2% terms , but they did give themselves a get out clause

Tracey04

I have just finished a Halifax fixed mortgage in Jan 09 and I'm now on SVR.
How do I go about making extra payments as the bank rate keeps altering payments ( ie the difference from then and now approx £30)?
I had 12 years left if overpayments are made how do I work out the term left.
Also do I pay it each month or should I put it in a bank account to pay off in a larger sum of money.
are there any rules?

Thanks

Rikki

Give them a ring as depending on the type of mortgage interest only / repayment they have different methods.

Repayment side:I make payment using my banks bill payment system I just pay what I want when I want.
Interest only: I have to send a cheque specifying this.

All banks are different as are the terms of the mortgages. I find the bill payment really easy.

alflavor

Tracey04 wrote: »

I have just finished a Halifax fixed mortgage in Jan 09 and I'm now on SVR.
How do I go about making extra payments as the bank rate keeps altering payments ( ie the difference from then and now approx £30)?
I had 12 years left if overpayments are made how do I work out the term left.
Also do I pay it each month or should I put it in a bank account to pay off in a larger sum of money.
are there any rules?

Thanks

I just use my current account to make a payment to the mortgage account, just use all the details on the statements Halifax send you.

Also worth registering for online access to Halifax, although the system is not as flexible as it could be - you can only see your balance, and not the payments. Odd!