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Halifax Advance
claireE_2
Posts: 4 Newbie
Is this an expensive loan. I want to release some equity. Mortgage is fixed for further 1 and half with Halifax. I do not want to incurr early repayment fees if I remortgage. Is this worthwhile?
0
Comments
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If you check the halifax website it tells you all you need to know. There is an arrangement fee of £299. Website says the overall cost for comparison is 7.4% and there is a repayment table that will help you work out your monthly payments.Overdraft - £1,300 5%
Overdraft - £3000 5%
Halifax C/C - £3,200 0% 08/07
Virgin C/C - £1,500 0% 06/07
Mortgage - £61,214.68 overpaid £700
Olymic Challenge - £597.240 -
They offer (2 different types of borrowing)
1. further advance (where you can do a further advance potentially up to 97% of your property value at the existing mortgages rates available) or
2. Home owner loan £3k to £25k at standard variable rate0
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