Mortgage offer from current lender- credit score?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
7 replies 537 views
Mizen79Mizen79 Forumite
31 Posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi All,

I always get a bit confused by mortgages, I have to admit.

I have had a mortgage with the Halifax since 2004, and have always stayed with them, whenever the 'deals' come to an end.

My question is- when my current deal ends (in roughly 6 months time), do they do any kind of credit scoring, or anything else before they decide to offer me a new deal? (I normally just receive a letter- call them up, and agree on which deal to go with).

The reason I ask is that we have just taken out a new unsecured loan for £22k.

I am assuming this would only happen if I applied for a mortgage elsewhere.


Thanks:)

Replies

  • dimbo61dimbo61 Forumite
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    You are right !
    You already owe them £XXXXX amount and as you are not borrowing any more they will simply offer you the current range of remortgage deals to existing customers.
    May even be on the Halifax website
    Perhaps now would be a good time for a 5 year fix if you have £22K of unsecured debt
  • dimbo61 wrote: »
    You are right !
    You already owe them £XXXXX amount and as you are not borrowing any more they will simply offer you the current range of remortgage deals to existing customers.
    May even be on the Halifax website
    Perhaps now would be a good time for a 5 year fix if you have £22K of unsecured debt

    Thankyou very much for the response! Very helpful. :D
  • dimbo61dimbo61 Forumite
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    Not sure of your LTV but they have a couple of 4 year fixes!
  • dimbo61dimbo61 Forumite
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    Hope you are not on Interest only ?
    You may be able to sign up for a new deal upto 3/6 months in advance.
  • dimbo61 wrote: »
    Hope you are not on Interest only ?
    You may be able to sign up for a new deal upto 3/6 months in advance.

    No we are on a repayment mortgage :)

    Initially borrowed £91.5k, have paid approx £50k into it ourselves, although can't remember last years statement balance (new one will be in next month or 2).
  • kingstreetkingstreet Forumite
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    Halifax product transfers can only be booked in the thirty days run up to the expiry of the current product.
    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.
  • dimbo61dimbo61 Forumite
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    Sorry I bow to Kingstreet who has much more knowledge about Halifax policy.
    Hope rates stay low for years to come !!!
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