Halifax product switch deal expired

Trebor2013

I started the process of switching deals with my existing lender Halifax on 23/06/2023, to which I was sent my offer documents and letter in the post.

The email I received states:

For your mortgage changes to start on 1 November, read and accept your mortgage documents by 30 October.

I went to accept the documents today (03/07/2023) only to get a message online stating I need to contact Halifax.

They have since told me the deal has expired and I can no longer access this. 

Totally understand if this is my error for not accepting documents immediately, but my understanding based on the wording above, is that I had until 30/10/2023 and there is nothing on the email suggesting that this offer would be withdrawn or expire? I appreciate this is because the rates have gone up, but just any feedback welcome

amnblog

Part of the problem with going direct to the Lender, you do not get to talk to someone sensible.

If the direct process is similar to the process through Brokers you have not lost the rate. The system is telling you the rate has expired it is because the rate closed to new business over the weekend. That does not mean you did not secure the rate on the 23rd June.

If you did the switch on your phone be careful not to cancel the switch down and replace it by accident as rates went up around 1% on Saturday.

Just wait for your documents in the post.

Trebor2013

For anybody who needs to read this, based on my original post above…

Not putting the blame onto anybody but me, but after re-reading my documents, it seems I confused myself with what the literature said vs the email I received from Halifax. I should have gone by the literature and not taken the email too literal, which subsequently will now cost me another £63/month, on top of what is already going to be £160/month extra, as I didn’t formally accept the documents in time before the rates went up, thus my offer expired.

So if you’re like me, a little naive to it all, I highly suggest using a broker or at least have a second pair of eyes read over things if you go direct to the lender, just to make sure you don’t overlook anything or misinterpret like I did.

Good luck everybody.

al3xp

I did a product transfer on 1st May, it is a little misleading, but to be fair, the email from Halifax also says in bold just above that line in your first post:

To continue, please accept your mortgage documents as soon as possible.