Halifax Mortgage - Conditions

kilby_007

Hi guys, the conditions of our mortgage with Halifax state that we must hold a Halifax current account with at least £1000 credited to the account each month.

It is a bit vague, in that I'm not sure exactly how this is supposed to work. I've set up a current account in my name, but as the mortgage is in both mine and my partner's names does that mean that we will have to have a joint account? Also, do the monthly credits have to be in the form of payments from my employer or can I credit the account myself by way of bank transfer from my other bank on a monthly basis? I don't want to have to mess about changing bank details with my employer etc.

Anybody already have a Halifax mortgage and able to shed any light on this?

holly_hobby

Its a £1000 credit period - its source ie employer, is irrelevant.

As long as one of the mortgagors hold an account, meeting the £1000 credit requirement, you've met the conditions.

Hope this helps

Holly

kilby_007

That's great thanks Holly. I wish they'd told me this before so that I could have set up an account in preparation! I'm at the point where we're exchanging contracts soon but now I have to wait 7 days for bank account paperwork to come through and pay £1000 into the account before I can proceed.