Halifax Mortgages! SHOCKING NEWS

_Andy_

Would be nice. All the transfer rates we've got have higher fees than going direct to Halifax (presumably to offset the procs)

WF3

just phoned them and snapped their hand off for a 5.89% fixed for 3 years with £699 fee.

Said it will be gone tomorrow......:j

dont have to take it if I find a better offer but thought I might aswell secure it incase the rest follow suit

have i done the right thing?

Broken_hearted

You should have gone elsewhere we got 5.69% with no fees fixed for 3 years so good we reduced the term by another 2 years. Glad I'm not with Halifax.

Dan_Collins_2

The money that the BOE have pumped in can be used for anything the lenders want, so it may or wont make any odds.

Trollfever

Halifax have no money!

HBOS to tap shareholders for $8 billion
Write-downs surge in first-quarter; interim dividend to be paid in stock


By Simon Kennedy, MarketWatch
Last update: 9:34 a.m. EDT April 29, 2008

payless

_Andy_ wrote: »

Would be nice. All the transfer rates we've got have higher fees than going direct to Halifax (presumably to offset the procs)

Just had an email from one of the mortgage clubs .. their 3 yr fixed retentions exclusives with lower rates than Halifax direct ( according to website, so guess OP was offered a old rate) but yes bigger fees, so more suited to larger loans - although even on smaller cases a bit of a rebate could be used to offset the bigger fee ... not ideal but better than having nothing , although as indicated not as good as open market,

Bf109

WF3 wrote: »

How can they justify this ????? disgusting!

They dont have to justify it. They can do what they want with their interest rates. They are a bank. Not some kind of mortgage charity.

atuk

Is a deposit needed when you remortgage?

zorber

atuk wrote: »

Is a deposit needed when you remortgage?

No a deposit is only needed when first buying.
Though saying that it would be helpful if there is equity in your house if it is going to be remortaged to 100% then they may refuse and you will be stuck on standard rate

Martinslovechild

atuk wrote: »

Is a deposit needed when you remortgage?

A deposit would be required if house prices dropped and your equity level dropped below the minimum required by the bank.

e.g. you buy a house for £200,000. A year later, there's been a 20% house price crash and your house is worth just £160,000.

Let's say that you then want to remortgage but the new lender requires a 25% deposit for the deal you want. You'll therefore need to cough up £40,000 (25% of £160,000). Normally, you'd simply take this from the equity, except you unfortunately don't have any.

In addition, you'll have to pay your original lender £40,000 (the difference between £200K and £160K) to redeem your mortgage.

So - £80,000 to swap a mortgage from one lender to another. Plus arrangement fees. Nice.