Halifax product transfer options

Skint2019

Good morning, our fixed deal is due to end in April and this morning I am able to access our product transfer options with the Halifax. We were hoping to stay with them and to avoid the remortgage process fixing for as long as possible with a product transfer. However, the offers don’t seem great. We have 23 years left with £214,079 outstanding. Our LTV is 47%. They have offered us a 2 year fix at 2.02% or a 5 year fix at 2.19% without fees. Can I ask your thoughts on these rates please? Many thanks in advance 

[Deleted User]

Halifax have always offered fairly poor product transfer rates in comparison to the rest of the market.   Those rates wouldnt be too bad if you had a £30k mortgage or something but with the mortgage size you have then a source of the whole market is going to save you a lot of money

getmore4less

You can see why Halifax now hide their product transfer rates.

Were there no fee options?

If people were better informed  they would be more reluctant to take Halifax bait rates.


Just happen to have Barclays remortgage sheet up so a quick 5y comparison  also agains 1.5 999 fee as some lenders still have that.
the great escape no fees options and a better rate with some fees.

amount	rate	payment	owing
£214,000.00	2.19%	£987.65	£176,175.08
£214,000.00	1.90%	£987.65	£173,195.48
£214,999.00	1.69%	£987.65	£172,152.53
£214,999.00	1.50%	£987.65	£170,234.96

There is £3k saving without trying there will be plenty of other options that might be a better fit Barclays is not for everyone 
there is probably £6k+ saving if you find a deal under 1.5% with £1k fee

Skint2019

Thankyou, these are the only two options it shows 

mrsmsebastian

Hi my 2 year fix is due to end this April and Nationwide product switch offer aren't great too. They offered me 10yr fix for 2.09% so Im remortgaging to TSB which today sent me a remortgage offer of 10yr fix for 1.74% which I accepted. When I came back to MSE mortgage buys to have a peek after few days Lloyds had a much better offer of 1.66%  for 10yr fix! Argh what a shame, so If I were you, remortgage with Lloyds.

Windofchange

Same here. Halifax renewal for march and our offer was about 2.6% which is a good percentage point over elsewhere. So. We are off to platform at 1.74%. Wonder what Halifax are doing? Surely it’s not a good business model to haemhorrage customers from having good initial rates and then naff renewals? Wonder if they are deliberately trying to reduce their exposure to uk property?