MSE News: Halifax paying first-time buyer stamp duty: is its mortgage deal any good?

*cassius*

Hi, has anybody who has applied for this product been given information relating to a £999 product fee, i applied through a broker and they have stated there will be a fee, however halifax website confirms this is exempt as well as the quotes given on here, can anyone confirm which is correct ?

pops5588

*cassius* wrote: »

Hi, has anybody who has applied for this product been given information relating to a £999 product fee, i applied through a broker and they have stated there will be a fee, however halifax website confirms this is exempt as well as the quotes given on here, can anyone confirm which is correct ?

No there is a £999 fee which we have added to the mortgage repayments, so if you are going to go for it bear in mind that will be added to the monthly costs unless you can pay it upfront.

martin2345uk

Hmm I wish I had seen this before! Just been approved by HSBC, I'm a FTB and house is £194k so that's a fair whack on stamp duty!

(No help from bank of mum & dad I might add!)

Serafinaaa

You can change to the stamp duty deal! I was on a different deal with Halifax and swapped over. It took one quick phone call. I'm a FTB paying £160k. Most first time buyers need to spend over 125k here... And I'm in the north.

*cassius*

pops5588 wrote: »

No there is a £999 fee which we have added to the mortgage repayments, so if you are going to go for it bear in mind that will be added to the monthly costs unless you can pay it upfront.

Thanks for updating me with that information is the mortgage application fee also included in the mortgage costs or is that payable

kingstreet

pops5588 wrote: »

No there is a £999 fee which we have added to the mortgage repayments, so if you are going to go for it bear in mind that will be added to the monthly costs unless you can pay it upfront.

3.59% is fee-free, 3.19% has a £999 fee which can be added to loan. Size of mortgage will determine which is best for each individual.

kingstreet

*cassius* wrote: »

Thanks for updating me with that information is the mortgage application fee also included in the mortgage costs or is that payable

Valuation and valuation admin fee upfront on application. Mortgage account fee and product fee can be added to loan.

*cassius*

thanks you both for your help with this

jackiebeattie

My Son has just applied for the Halifax mortgage where they pay your stamp duty and was turned down even though he had been given a mortgage certificate stating that he was being offered a mortgage.

I think they have misjudged the uptake on these mortgages and are looking for any excuse to pull out.

He has just been offered a mortgage by another building society without any problems at all even though all his savings are in the Halifax.

Halifax are a total farce. Myself and husband also have a sizeable sum with the Halifax that is now going to be removed and invested in a decent establishment (there are still some around).