Halifax Product Transfer

jakesmummy05

Hi All

Does anyone know anything about the process?
Our fixed deal ends 1st July so can apply now to re-fix.

I am worried about the whole MMR thing.

On the net it says 'certain product transfers are subjected to full affordability'.

We want to keep the term and mortgage amount the same. It is repayment, no interest only in our mortgage. Our mortgage will not run into retirement. We don't want any extra funds.

Thanks

Goldiegirl

If it turned out that you applied for a product and didn't meet the 'full affordibility', I expect your mortgage would just go on to the SVR.


They are not going to ask you to repay the mortgage if you didn't meet the 'full affordibility'


I don't think it's anything to worry about, just ring them, and see what's on offer.

kingstreet

The process includes a mini-affordability calculation. You only come under increased scrutiny if any part of your mortgage is interest-only with no repayment vehicle, then you can expect pressure to use any savings to convert part, or all, to repayment.