remortgaging

kshepherd_2

I have a mortgage with the halifax, the fixed term runs out in december and on looking at the rates the currently offer, my monthly payment would rise by at least £100.
What i don't understand is, if i remortgage with them ( staying in my current home) the best rate they can give me is 6.7% but if i remortgage and move they can give a rate of 6.04%
Does anyone understand this, i would be staying with them whatever i did.

homer_j_3

You are doing a product transfer not a remortgage by staying in your current home. These deals are for exisiting customers.

Remortgage products are for those who are remortgaging to the halifax from a different lender so are aimed at attracting new business.

Rightly or wrongly this may be seen but that is how the halifax have designed their business model.

Daisy_Daisy_2

Have you looked at other lenders?
Chelsea do fixed rates from 5.49% for new borrowers and they are lovely to deal with. (only my own personal experience!)

kshepherd_2

Thanks for the advice, i still don't understand a they are getting my business no mater what. It feels like I'm being penalized for not moving!
Will check out chealsea.
Ta