Halifax mortgage exisiting customer switch checks

Katkins1982

Hi there,


We are switching to a new Halifax mortgage deal next month, as ours is due up for renewal. We are currently with Halifax.


I am a panicker! Nothing much has changed - We are earning slightly more, and I have an extra couple of hundred on a credit card, but apart from that, things are the same. We have never defaulted a payment.


What checks do Halifax do when it is an existing customer? Will we be credit checked again?

nosebag

If you have a 14-digit mortgage account number you can switch to a new rate online with no checks, provided that you also meet some other criteria listed below. Don't switch over the phone or in branch, as there will be more checks involved.

https://secure.mortgages.halifax.co.uk/mortgage/mortgage_switch.asp

If your mortgage number starts with A/ then there will be a lot of checks... and the switch can only be done over the phone.

https://forums.moneysavingexpert.com/discussion/5450742

In both cases you can switch a bit earlier - up to 3 months before your fix rate ends. So say if fix rate ends 31 July, you can switch after 1 May with no ERC penalty.

foxy-stoat

Don't panic until you have something to worry about.


If nothing much as changed since you took out the mortgage and you have been paying it down for the last 2+ years then you are in a better position financially. As long as you haven't missed payments and your property's value hasn't dropped like a stone you will be fine.