Fixed and now can’t look for new rates

FtbDreaming

Hi! I fixed on the first day I could so 1st Nov I went onto Halifax and fixed at 5.17% for 5 years from 1/5/24… I done this incase the rates were going up more and with the intention of securing a new fix if the rates drop between now and then so was expecting to keep going on every few weeks and seeing if the rates had improved. 

Anyway I can’t actually do that. When I go onto Halifax it says I can’t access it because I have recently made a change (which is the new fix). Is there any way I can get around this or should I just keep an eye on the wider market of mortgage providers? 

I haven’t change anything re loan or term and I am also hoping to be below 60% LTV come January which should get me in the lower rate offers anyway x

sammyjammy

Have you consider calling and asking your question?

ACG

You need to ask them to unlock it. 
On a side note, I dont think their PT rates have come down. I have a lady with Halifax who I have done a PT for, I keep hearing about Halifax reducing their rates but the PT rates are still more now than the product I have reserved. 

amnblog

If you handle this direct with Halifax I do not believe they have any mechanism to keep an eye on rates and alert you if a better one comes along before the end of April. Much less any automatic system to update your rate.

As ACG says you can call them and cancel down what you have before securing an improved rate. The problem of course, is that there is no point in making the call to cancel if you cannot get it to see what the current rate options are.

If you handle this via a Broker, the Broker will always be able to see the latest rates and should keep an eye on the rate and change it if necessary any time before May. 

gm12

FtbDreaming said:

Hi! I fixed on the first day I could so 1st Nov I went onto Halifax and fixed at 5.17% for 5 years from 1/5/24… I done this incase the rates were going up more and with the intention of securing a new fix if the rates drop between now and then so was expecting to keep going on every few weeks and seeing if the rates had improved. 

Anyway I can’t actually do that. When I go onto Halifax it says I can’t access it because I have recently made a change (which is the new fix). Is there any way I can get around this or should I just keep an eye on the wider market of mortgage providers? 

I haven’t change anything re loan or term and I am also hoping to be below 60% LTV come January which should get me in the lower rate offers anyway x

I am in the same boat. You can call them on the number on your letter outlining your current offer, and they will check whether a better rate has become available. I got straight through and the call only took five mins. The rate hadn’t improved when I called but I will try again at regular intervals.

amnblog

You can cancel down that request right up until late March (call them up).

I think you will find however, that the current rate is still 5.17% (5 year fixed 75% LTV). The only difference being that the fixed rate on the product launched in December ends 31/03/2029 rather than 31/01/2029

If you have a sizeable mortgage (say over £150,000) it is worth speaking to a broker about the benefit of accessing the Halifax 5.04% rate