Halifax Mortgage Rate as a customer??

lancs123

Hi, I am currently looking at getting a mortgage (first time buyer) I bank with the halifax and have a Reward Current with them.

The mortgage rate I have been offered is 3.79% fixed for 2 years although I have been told if I upgrade to an Ultimate Reward current account I can get the rate at 3.59%

On the Halifax website Here it says and I quote 'Just pay £1,000 or more into a current account with us each month or open an Ultimate Reward Current Account.'

My problem being is that Halifax insist that I have the Ultimate Reward current account although the page linked to above says to me that I just need to fund a normal current account each month.

What do we all think?

TrickyDicky101

Let me guess: does the Ultimate Reward Current Account charge a monthly fee by any chance?

lancs123

Yes it does charge a fee of £12.50 a month thats why I don't want that account.

Engeroosi

Will the difference in rates save you 12.50 a month? If so then take out the account, then get the mortgage, then cancel account in a few months time. Depending on what benefits the account gives you it could be worth keeping to ensure you have the lower interest rate.

smitchy73

Remember you get other benefits from the account too, like mobile phone insurance, breakdown cover, and travel insurance and there are other things too but can't remember them all.