Halifax mortgage deal coming to end now SVR

jamie07971

My Halifax mortgage deal ends this month and then goes onto SVR. I am currently on a tracker paying 0.5% or just over. My repayment on the SVR is almost £350 more a month on 90%LTV. I cannot see any deals that are any better than SVR - can anyone help?

Thanks

Jamie

yelf

no - the SVR is the best deal available for new mortgages almost everywhere. You can get some trackers,but even they are over 2% above base.

jamie07971

thank you!

beecher

Just be aware that at 90% LTV, you're in danger of being unable to get a deal should house prices continue to fall. So sticking with the SVR might be the cheapest option now, but what happens when interest rates rise? Depending on your attitude to risk, and your ability to cope with rate rises you might want to look at 5 year fixes and weigh up the long term consequences.