Halifax mortgage fees cut by 50%

almeida24

I noticed today that Halifax have cut the cost of their product fee by 50%. I am currently in the process of getting a mortgage with Halifax and it has been approved etc but I haven't yet paid or started paying the mortgage yet.

Am I entitled to the reduced fee or will I still have to pay the full fee (which is around £1000)?

Thanks

Peelerfart

First FD, now Halifax cutting fees!

God save us from interesting times

Courtmill

Wow overly helpful response there "Peelerfart"...

almeida24- you will not be entitled to the reduced fee. Companies reserve the right to change their products at any time, and the change will only be applicable to "new customers" or customer approaching them after the announcement.

A good example taken from my work- we provide student accomodation. If someone books a room at £140 a week, and then 3 weeks later, we're offering the same kind of room, for £120 a week- they cannot benefit from the lower price. We drop prices to encourage bookings to fill our rooms- you book it at one price and that's the end of it.

almeida24

Courtmill wrote: »

Wow overly helpful response there "Peelerfart"...

almeida24- you will not be entitled to the reduced fee. Companies reserve the right to change their products at any time, and the change will only be applicable to "new customers" or customer approaching them after the announcement.

A good example taken from my work- we provide student accomodation. If someone books a room at £140 a week, and then 3 weeks later, we're offering the same kind of room, for £120 a week- they cannot benefit from the lower price. We drop prices to encourage bookings to fill our rooms- you book it at one price and that's the end of it.

Thanks! I thought so, however because I had not yet paid then I thought I may have benefited also. Never mind.

Radionotme

Try asking them anyway - you've got nothing to lose?

Peelerfart

No Problem Courtmill, but in reality my post was there to simply highlight the possible change in market conditions which may or may not be round the corner.
In making the comment I knew that soon, someone with the wealth of experience would be along to assist the OP.

Sure enough - you did with your valuable insight into the student accomodation market,

OP as Radio has said - please just ask them

silence12

almeida24 wrote: »

Thanks! I thought so, however because I had not yet paid then I thought I may have benefited also. Never mind.

HI Almedia, when did you put in your mortgage application to Halifax?

I put mine in last week, and I am still waiting. I am not too sure how long I should wait.

When I put an application through to Nationwide, it was refused in 24hrs.

Courtmill

silence12... My mortgage application has been with Halifax for 4 weeks... we went to offer status on Wednesday and should- fingers crossed- be signing contracts today.

Just keep chasing them- you will only get things done if you're proactive.

Almeida24... any luck?

almeida24

Quick update...

I called my mortgage advisor and he told me I would still have to pay the full price because it is a new product. Therefore if I wanted to change to the new product I would have to pay the full cost of my existing product plus the cost of the new product so obviously it would work out more expensive.