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Halifax fixed rate
amjad171
Posts: 66 Forumite
Hello,
If I am fixed into a 5 year fix with halifax, can I change th mortgage from a interest only to repayment? and is it possible to reduce the mortgage term or do i have to wait for the 5 year period to finish?
Thanks
If I am fixed into a 5 year fix with halifax, can I change th mortgage from a interest only to repayment? and is it possible to reduce the mortgage term or do i have to wait for the 5 year period to finish?
Thanks
0
Comments
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Contact the lender and request that they make the changes.
The fixed interest rate and term are irrelevant.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
How soon could you ask for the changes to take place, I mean if I start the 5 year fixed period on 1st sept and the mortgage term is 30 years, can I ring after a month and ask to have the term reduced to 20 years but still have the 5 year fixed rate?0
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You probably can, though some lenders charge an admin fee (I think mine is about £150) to change the term/interest only amount of the mortgage - your best bet is to just phone and ask them.Mortgage Free thanks to ill-health retirement0
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I will have to give them a ring.0
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