Halifax mortgage products (A Guide)

In this brief guide, we will discuss the Halifax mortgage products.

What kind of mortgage does Halifax offer

In our Halifax mortgage review, we considered the various Halifax mortgage products which Halifax offer.

Halifax Fixed-rate mortgages:

With these mortgages, the rates are fixed for a period of 2, 3 or 5 years and provides you certainty over your Halifax Mortgage product for that time frame. If you want to settle your Halifax mortgage product during the fixed term or overpay on your mortgage you may have to pan an early repayment fee.

Halifax Variable rate mortgages:

You can access a host of variable mortgages through Halifax Mortgages and these Halifax mortgage products will have a variable rate which can be increased or decreased at any time by Halifax Mortgages mortgages. You will be informed before a rate increase.

Halifax Tracker mortgages:

You can access a host of tracker mortgages from Halifax Mortgages. These mortgages will usually track the bank of England’s rate and will move in line with it, although it may not be the exact rate but rather a rate which will increase by the same point or decrease by the same point as the bank of England rate.

Halifax Remortgages:

You can access a host of remortgages on any of Halifax Mortgage products. To get a remortgage you may need to have sufficient equity in your home and meet the mortgage affordability requirements.

Halifax Mortgages buy to let:

Halifax Mortgages also offer a host of buy to let mortgages for buy to let investors.

You may be able to access mortgages on Halifax Mortgages with up to 95% Loan to value (LTV).

Halifax Mortgage products

Halifax has a host of mortgage products for:

Product transfers

Further advances

Affordable housing

Help to Buy

New Build

Self Build

You can view a full list of Halifax mortgage products here.

If you are considering getting a Halifax mortgage product then using a mortgage broker to help guide you through the hundreds of Halifax mortgage products available may be the best choice.

Using a mortgage broker

You may want to consider using an independent mortgage broker to get a mortgage.

Mortgage brokers are important as they can access mortgage products from across the whole of the market in some cases. This could be over 11,000 mortgage products. This may have some advantages than going directly to a mortgage lender.

A mortgage broker will look to understand your financial circumstances and then provide recommendations on which mortgage products may be suitable for you.

After giving you these mortgage recommendations, most mortgage brokers will seek your consent to apply for a mortgage in principle. This will allow you to shop for your home easier as more estate agents and sellers may take you seriously or it will give you confidence that your remortgage is indeed a possibility before you make a full mortgage application. Once you have found a home you want to buy or are satisfied with the mortgage offer for your remortgage then the mortgage broker will then look to get you a mortgage offer.

This will come with a key facts illustration document which details out the features of your mortgage including how much you will pay per month if there are any limits such as early repayment fees, or annual overpayment limits.

If you are happy with everything you can then go on to secure your mortgage with the help of a conveyancer. Your conveyancer will manage the legal searches on the property to ensure there aren’t any issues with it, they will oversee the sales agreement to ensure it is in your best interest, they will manage the transfer of mortgage funds, exchange contracts with the seller or their conveyancer and set a completion date with the seller or their conveyancer.

FAQs about Halifax mortgage products

Below are some of the most frequently asked questions about Halifax mortgage products.

Do Halifax Do tracker mortgages?

Yes, Halifax provides a range of Halifax tracker mortgages as part of its Halifax mortgage products.

What documents do Halifax need for a mortgage?

For a mortgage with Halifax you’ll need to provide the below documents:

Bank statements
Passport or driving license
Tax return documents
Property details

Can I check my Halifax mortgage online?

Yes, you should be able to check your Halifax mortgage online by registering for online banking. In your Halifax online banking portal you would be able to see your monthly mortgage repayments, your mortgage interest rate, your mortgage remaining term and your outstanding mortgage balance.

Do Halifax do lifetime mortgages?

No, Halifax does not do lifetime mortgages as it only lends till your retirement age.

How long does a Halifax mortgage decision take?

You may be able to get a Halifax mortgage decision in as little as 2 weeks depending on the complexity of your mortgage application.

If you are worried about making your Halifax mortgage application and worried that your Halifax mortgage decision could take much longer than usual then you may want to use a mortgage broker who has some experience of dealing with Halifax mortgages.

In this brief guide, we discussed the Halifax mortgage products. If you have any questions or comments please let us know below.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.