Halifax - coming off their SVR?

benl_2

Hi,

I have made an appointment with Halifax to discuss what packages are available to me now that my introductory rate has revereted back to their SVR. I am on a self-certified product and had LTV of 75% when I bought in May 2007. I need some advice as I am not sure what to expect (or if they will make me an offer at all on self-cert basis!) Any tips on preparing for this meeting? What are my chances of finding a better self-cert product from another provider at this time?

Making a capital repayment to restore the LTV to a level which meets their product requirements might be possible. However what are my options should I disagree with their current valuation of my property (resulting in a much larger repayment being required)?

regards,
Ben

Jackboy29

Isn't their SVR 3.5% at the moment. I guess you want to fix in for a certain amount of time but Base Rate may stay low for a while yet

opinions4u

benl wrote: »

I have made an appointment with Halifax to discuss what packages are available to me now that my introductory rate has revereted back to their SVR. I am on a self-certified product and had LTV of 75% when I bought in May 2007. I need some advice as I am not sure what to expect (or if they will make me an offer at all on self-cert basis!) Any tips on preparing for this meeting?

1. Don't rule out simply going on to the 3.5% SVR. This is possibly the most flexible of the optiions and avoids product fees etc.

2. Work out in advance what deals they have from their web site. Go in to the meeting with knowledge.

3. Use the Nationwide house price calculator to get a better idea of the current value of your property.

What are my chances of finding a better self-cert product from another provider at this time?

Limited. Why are you unable to prove your income?

Making a capital repayment to restore the LTV to a level which meets their product requirements might be possible. However what are my options should I disagree with their current valuation of my property (resulting in a much larger repayment being required)?

You could probably pay a valuation fee to get a real valuer out to the property to assess things, rather than relying on their indexation. The disadvantage is that if the valuer says it's worth less than their indexed value you have made your position worse and paid a fee for the privelige!