Hi Guys,
I know a couple of you have applications going through with Halifax at the moment so thought I would point this out to you...
Whenever a new rate is released with Halifax, so long as the Solicitor has not requested the funds for completion from Halifax (when it becomes too late to do so) you are able to switch over to a new rate without any cost or additional underwriting required.
The process takes 2 minutes and you get an offer live from their system there and then. A copy of the offer is also posted to you and the Solicitor that day too.
I will always check through my pipeline of applications and see if any of the changes positively affect my clients and will then contact them to gain their permission to switch over to the new lower rate (funnily enough I havent had one say no so far but we always have to ask nonetheless)!
Your broker should be doing the same but I have known a few lazy brokers in the past not bother with this instead concentrating on submitting new applications for other clients. It may be worth a quick email to your broker tomorrow when the rates are released to give them a nudge to change it over to the new rate.
Changes as follows:
New 2 year LTV range (previously they only offered rates with 25% deposit of 15% deposit)
All available for home movers, remortgages and first time buyers.
3.39% 2 year fixed or tracker rate with £999 fee or 3.79% 2 year fixed or tracker with no fee.
85% LTV rate reductions
Homemover rates reduced by up to 0.20%
Remortgage rates reduced by up to 0.30%
90% LTV rate reductions
Homemover rates reduced by 0.40%
First time buyer rates reduced by 0.20%
Hope that helps those going through the process at the moment with Halifax!
Ben
I know a couple of you have applications going through with Halifax at the moment so thought I would point this out to you...
Whenever a new rate is released with Halifax, so long as the Solicitor has not requested the funds for completion from Halifax (when it becomes too late to do so) you are able to switch over to a new rate without any cost or additional underwriting required.
The process takes 2 minutes and you get an offer live from their system there and then. A copy of the offer is also posted to you and the Solicitor that day too.
I will always check through my pipeline of applications and see if any of the changes positively affect my clients and will then contact them to gain their permission to switch over to the new lower rate (funnily enough I havent had one say no so far but we always have to ask nonetheless)!
Your broker should be doing the same but I have known a few lazy brokers in the past not bother with this instead concentrating on submitting new applications for other clients. It may be worth a quick email to your broker tomorrow when the rates are released to give them a nudge to change it over to the new rate.
Changes as follows:
New 2 year LTV range (previously they only offered rates with 25% deposit of 15% deposit)
All available for home movers, remortgages and first time buyers.
3.39% 2 year fixed or tracker rate with £999 fee or 3.79% 2 year fixed or tracker with no fee.
85% LTV rate reductions
Homemover rates reduced by up to 0.20%
Remortgage rates reduced by up to 0.30%
90% LTV rate reductions
Homemover rates reduced by 0.40%
First time buyer rates reduced by 0.20%
Hope that helps those going through the process at the moment with Halifax!
Ben
