Halifax SVR dis!!!!ed product.

somi

I am currently on Halifax SVR @ 3.50%. However i have been offered -0.51 SVR till Jan 2012 making it 2.99 at currently. Thats halifax as well.

DO you think this is good deal and what you guys think about Halifax SVR going in these 2 years. Is Halifax obliged to leave their SVR low and close to base rate.

Thanks in advance.

Sal

_Andy_

With an SVR there is no obligation for the lender to move it in line with base rate.

opinions4u

somi wrote: »

I am currently on Halifax SVR @ 3.50%. However i have been offered -0.51 SVR till Jan 2012 making it 2.99 at currently. Thats halifax as well.

DO you think this is good deal

How much is the fee for the tracker product? How much do you owe on the mortgage?

Nobody can answer the question without that information.

and what you guys think about Halifax SVR going in these 2 years. Is Halifax obliged to leave their SVR low and close to base rate.

Halifax SVR currently tracks at BofE + 3%. If they change this they need to give you notice and a window that would allow you to move your mortgage to another lender without paying any ERC.

(I think you missed an "o" out in your thread title)!!

somi

The fee for tis product is £599 and I have 197000 on the mortgage.

Stay with curent SRV or take this.

Let_Us_See

£197k saving 0.51% is £1004.70 interest saved per year against an arrangement fee of £599. I will let you come to your own conclusion.

somi

Let_Us_See wrote: »

£197k saving 0.51% is £1004.70 interest saved per year against an arrangement fee of £599. I will let you come to your own conclusion.

Thanks I think i should accept. Also just now got a call now they want to add valuation fee of £165 on top of the fee as well. Is that reasonable, i read the mortgage offer as well on the section its says no fee for valuation. They have to re-value it becasue it is coming back with ridicously low figure of £191k when it should be at least £350k + or just under. But since i bought it for 230k the halifax system re-values it from that point and not market value.

feedback appreciated.

Let_Us_See

If you wish to change rates than £165 is soon recouped.