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Retention Products
scoops82
Posts: 247 Forumite
Hi
My fix will end in June 2016 and would ideally not have to go through the new affordability checks as I just managed to get my previous mortgage the month before MMR was introduced.
My Current deal
Halifax
90% LTV
4.79%
35 Years
The new LTV should be 75% (conservative estimate) but will Halifax use a database or come round and re-value it? Does anyone have any insight into what kind of rate the Halifax retention products are likely to be?
Thanks in advance.
S
My fix will end in June 2016 and would ideally not have to go through the new affordability checks as I just managed to get my previous mortgage the month before MMR was introduced.
My Current deal
Halifax
90% LTV
4.79%
35 Years
The new LTV should be 75% (conservative estimate) but will Halifax use a database or come round and re-value it? Does anyone have any insight into what kind of rate the Halifax retention products are likely to be?
Thanks in advance.
S
Scoops 
0
Comments
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Halifax uses its own in-house indexed valuation system, but will allow you to pay for a drive-by or internal inspection if you feel the property would be valued at more as a result.
http://www.halifax.co.uk/mortgages/existing-customers/switch-to-a-new-deal/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.0 -
My fix will end in June 2016 and would ideally not have to go through the new affordability checks as I just managed to get my previous mortgage the month before MMR was introduced.
Lenders had tightened up internal procedures well before MMR took effect. The greatest impact is on those who originally self certified income a while back.
Who knows what Halifax will be offering in some 20 months time. No one foresaw that lending rates would remain so low for so long.0 -
Thanks - I don't suppose you know if the rates are the same as the ones for re-mortgaging do you?Scoops0
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Plus I can switch 3 months meaning I can look at doing so in March and I cant see the rates moving very much by thenScoops0
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No, they aren't.Thanks - I don't suppose you know if the rates are the same as the ones for re-mortgaging do you?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.0 -
If you can change products in 8 months and Book a new deal in March 2016 then just save the website
http://www.halifax.co.uk/mortgages/existing-customers/switch-to-a-new-deal/
Simply check what is available nearer the time and Book a new deal online0
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