Halifax mortgages?

DawnW

On asking to view a house up for sale with Halifax EA, they have immediately tried a hard sell on Halifax mortgages, telling me they are cheaper than the C&G deal I have AIP through a whole of market broker who was recommended to me by a neighbour we have known for about 20 years. This seems odd, as they know nothing at all of our rather unusual circumstances, whereas the broker has taken all into consideration. Does anyone have experience of Halifax mortgages? And what do any of the 'resident' brokers think? Are they really cheaper (80K BTL repayment mortgage over 10 years, 50% + deposit in place, employed, v. good credit rating, no debts etc etc, the broker was able to look at a very wide choice). Thanks in advance.

Badger_Lady

Hia - don't know much, except I've got a Halifax mortgage that I took out this year.

The only reason I ended up with Halifax was because my preferred product lenders denied me on grounds of credit - this was the best product I could be accepted for.

But it entirely depends on your circumstances and requirements... the EA is obviously biased and you need independent advice.

herbiesjp

Well - if its a BTL then Halifax will not do it.

Their other group companies might such as Birmingham Midshires or Bank of Scotland. If it's BTL it will all depend on the rental calculation as well, so the other rates may be cheaper, but they may not be able to agree the mortgage amount wanted, or they may charge higher fees than you want to pay

I wouldn't let this hard sell put you off the deal you have chosen, as your rightly say, your broker has done the research based on your circumstances and will have filtered down what you are looking for.

Noz

I might have misunderstood, but Halifax do now offer BTL http://www.halifax.co.uk/mortgages/buytolet.asp

dunstonh

Hmm, lets see. A tied rep from an estate agent (the worst type of adviser to see) tells you that they are better than a whole of market adviser who has access to that very same mortgage that the tied rep has.

Estate agent advisers have a very poor reputation (not including independent estate agents using independent advisers who must get fed up with the image that the tied mortgage advisers give them).

Go back to your whole of market adviser and tell them that the estate agent adviser has recommended Halifax as being cheaper and see what the response is. Cheapest rate doesnt mean best deal.