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Quick question
katesmommy
Posts: 34 Forumite
Sorry to sound silly but..
We have a 2 year fixed mortgage which ends in April with Halifax.
What happens then? Paperwork says we switch to SVR (which is actually a lot cheaper according to paperwork). Does this involve any credit checks?
Never been in this position before as we sold our last house whilst still in a fixed mortgage (ironically that was also with Halifax)
We have a 2 year fixed mortgage which ends in April with Halifax.
What happens then? Paperwork says we switch to SVR (which is actually a lot cheaper according to paperwork). Does this involve any credit checks?
Never been in this position before as we sold our last house whilst still in a fixed mortgage (ironically that was also with Halifax)
0
Comments
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If you do nothing you will go onto the SVR.
Otherwise you could contact them and ask what retention (existing customer) products they are offering.
Neither of these involves any form of crdit checks or underwriting, though any retention product will be based on your loan to value. Halifax will use the purchase price and then apply its house price inflation index from your region to work out a current value.
Or you could remortgage to a new lender. This would involve a new application, credit and income checks, underwriting, valuation and conveyancing.0 -
Halifax calls it homebuyer variable rate and it's currently 3.99%.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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