Existing customer

blueblazer

Hello, hopefully a quick question.
I have a mortgage with the Halifax in my sole name, with the fixed rate ending in September. We are looking to add my partner to the mortgage and get an extra £30k for house improvements. If we stay with the Halifax, would we be a new customer or existing as the rates for existing customers are lower?

dimbo61

You would need to talk to them.
You are asking for extra borrowing and adding your partner to the mortgage and deeds !

Lilla_D

You are an existing customer looking to do a transfer of equity (i.e. adding your wife), a product transfer (switching to a new rate) and a further advance (£30k).
Just had a case like yours this week where Halifax confirmed that they could have done the product transfer and the further advance via me as a broker, but because of the transfer of equity, the client had to deal with them directly.

blueblazer

Thank you. I saw the advisor at the Halifax today and she said it had to be a new remortgage and therefore the rate would be 2.64% plus product fee rather than 1.99% with no fee for 5 year fix. Are you saying to do all that I would need to go through them and be a new case or should I try again asking to be an existing customer?

Lilla_D

Yes, you will have to go through Halifax directly. If you weren't adding your wife, then you'd be treated as an existing customer, but since you're adding her, they may or may not be able to give you the same deal. I'm afraid it's something only they can tell. You can ask another Halifax advisor just to double check, there's no harm in that.

blueblazer

Many thanks for the reply - much appreciated