New lower rates during application

rex28

Hi all,
I'm in the middle of a Halifax mortgage application. I applied 2 weeks ago, the valuation is done and I'm told we can expect a decision this week.
I applied for a 3.94% product, with a £1000 cashback.
I've seen this morning that a new rate of 3.64% is available with a £500 cashback.
Over the 2 year fixed period, the new rate would be a saving of around £1000.
Am I able to take advantage of the new rate at this stage in the game?
Thanks

shortcrust

When this happened to me I contacted my broker and he emailed back with a revised mortgage offer within minutes.

Just make very sure you're looking at the same product. With the 5 year fixed products the lower rate doesn't make up for the lower cashback (I think...). Also, be aware that your conveyancer might charge extra for dealing with the updated offer - I think mine did but I got so sick of querying stuff that I just paid it. Not very MSE.:o

mandygrace

With Halifax you are able to change to the lower deal, if you have a broker get in touch with them and they'll change it for you