New offer for existing Halifax mortgage customer

alandoc

I've just had a letter from the Halifax offering me a new deal from November. Instead of 6.9% AER they are offering me 5.89% for three years at a fixed rate.

Only problem sems to be the product fee of £699.

A good deal?

Rabiddog_2

If the extra savings you make total more than £699 then yes it is a good deal.. unless you think mortgage rates are going to go below the fixed rate...imho sounds like a good deal.

medic1978

Well it's better than the 6.29% fixed for 3years with £699 fee they are advertising on their website- for EXISTING customers with 75% LTV or 6.39% if LTV more

beecher

That's interesting that Halifax are contacting customers 6 months in advance, and offering better deals than they are advertising online. My fixed rate is due up in December and if they offer me the same deal next month I'll definitely go with it.

fraggle8

my fixed rate with halifax ends in july but they have not sent me a letter with this offer. i also rang them a few days ago and they gave me rates off website no mention of this

Gorgeous_George

I don't even get post on a Sunday

GG

angelboy

I'm with the Halifax and the end of the term is July. I haven't had anything from them offering me a deal!!!!!

alandoc

Thanks for the comments - it's possible they are writing to me because last time my lock-in period ended I threatened to leave the Halifax until they made me a better offer. At a saving of £1.5k over two years it was the best phonecall I ever made.

Tiddler_2

This is unusual as the Halifax system does not let you reserve products 6 months in advance, it can only do it 3 months in advance (although you do not get charged an ERC in the last 2 months and so could in theory do it 5 months before your current deal ends)

This means if you take a new deal now, it must start no later than 1st August.

Also Halifax's SVR is currently 7% and AERs don't apply on mortgages

TEDDYRUKSPIN

Look at HSBC