Halifax Mortgage review (+3 tips)

In this blog, we will consider Halifax mortgage reviews and how to analyse the publicly available information about Halifax mortgages and be able to review them so you can make up your mind about if you want to apply for a mortgage with Halifax.

Halifax is a UK bank which offers mortgages in the UK. It is one of the biggest mortgage lenders in the UK and so its Halifax mortgage reviews are in demand by a lot of people.

The Halifax mortgage review

When looking at Halifax the first available information you have is the trust pilot review on the Halifax bank which you can see here. If this review is anything to go by then this will imply that the Halifax mortgage reviews won’t be soo good.

What kind of mortgages does Halifax offer

In our Halifax mortgage review, we considered the various types of mortgages which Halifax offered.

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 Mortgages mortgage for that time frame.

Halifax Variable rate mortgages:

You can access a host of variable mortgages through Halifax Mortgages mortgages and this mortgages will have a variable rate which can be increased or decreased at any time by Halifax Mortgages mortgages.

Halifax Tracker mortgages:

You can access a host of tracker mortgages from Halifax Mortgages 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 increase by the same point as the bank of England rate.

Halifax Remortgages:

You can access a host of remortgages on any of Halifax Mortgages mortgages products.

Halifax Mortgages buy to let:

Halifax Mortgages 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 mortgages with up to 95% Loan to value (LTV).

Do Halifax mortgages allow you to make overpayments?

Halifax Mortgages mortgages may also allow you to make overpayments on your mortgage but there may be a fee for doing so and a limit on how much you can overpay your mortgage each year.

Does Halifax offer the best mortgage deals?

Whilst conducting our Halifax mortgage review we looked to see what mortgage provider offered the best mortgage deals but during our analysis, we discovered that the mortgage rates which most consumers ended up getting were based primarily based on their own mortgage affordability and not necessarily the rates offered. This is because every borrower may have different circumstances.

You can contact Halifax directly through their website here.

Can I borrow more on my Halifax mortgage?

Yes, you may be able to borrow more from your Halifax mortgage if you meet the mortgage affordability requirements set out by Halifax at the time of your request to borrow more from your Halifax mortgage.

If you are a first-time buyer then Halifax mortgages welcome you and you may be able to find some mortgage products on offer from Halifax mortgages which may suit you.

For a mortgage as a first-time buyer, you will usually need at least a mortgage deposit of at least 5% and in many cases you may be able to use a host of government schemes which help you increase the amount of mortgage deposit you have or reduce the total cost of the property purchase.

Some of these first-time buyer or home mover government schemes include:

  • Lifetime ISA– gives you a government bonus of £1,000 if you save the maximum £4,000 a year.
  • Help to buy ISA– gives a maximum bonus us £3,000 if you save the maximum allowed of £12,000. Before you get either you should consider which is better. Lifetime ISA vs Help to buy ISA.
  • Help to buy equity loan- gives you up to 40% as a 5-year interest-free equity loan. You begin to pay interest at 1.75 % after the fifth year and 1% plus RPI for every year thereafter.
  • Shared ownership- You can buy between 25% to 75% of the property initially with a shared ownership mortgage and then buy more using a staircasing mortgage.
  • Armed forces help to buy- similar to the help to buy equity loan but specific for the armed forces personnel giving them an increased chance of acceptance.
  • Rent to buy- This is the right to buy scheme on which this guide is currently discussing. A different marketing name is just used. Watch out for this when shopping to avoid missing out on eligible properties due to confusion.
  • Right to buy- allows you to buy your home at a discount price.
  • Preserved right to buy– same as above.
  • Right to acquire- same as above.

Depending on where you live, you may also be able to take advantage of home buying schemes provided by your local council. Example: In Norwich, the local councils provide the Norwich home options scheme.

Is Halifax a good mortgage lender?

As with all mortgage lenders, you will have to make up your own mind on if Halifax is a good mortgage lender or not.

Throughout our Halifax mortgage review, we didn’t find any reason to term Halifax mortgages as a bad mortgage lender.

You should also be aware that all mortgage lenders in the UK are regulated by the FCA and so they have to meet certain minimum standards. Mortgage lenders and all FCA regulated entities have to “treat customers fairly”.

What is a Halifax mortgage in principle?

A Halifax mortgage in principle is simply a letter which indicates how much Halifax mortgages is willing to lend to you.

How long does Halifax give to complete a mortgage?

When buying a property most mortgage lenders will give you 6 months within which you must complete on the mortgage. This is the same with Halifax. If you need more time you may be able to apply for an extension but you may be charged some fees.

What documents do I need for a Halifax mortgage?

During our Halifax mortgage review, we tried to come up with a sample list of documents you may be expected to have before applying for a mortgage in principle with Halifax.

Having these documents ready will ensure your Halifax mortgage application is handled swiftly and you can get a mortgage offer in record time.

The documents you may need include:

3 months worth of bank statements

3 months worth of payslips

Your P60 tax return

Your SA302 tax calculation form(if you are self-employed)

Your company accounts or self-employed accounts if you are self-employed

How long does a Halifax mortgage take?

A Halifax mortgage application may take as much as 4 weeks to complete but this all depends on your own individual circumstances. If you have a more complex situation then your Halifax mortgage application could possibly take longer.

How long does a Halifax remortgage take?

When conducting our Halifax mortgage review we considered how long the remortgage process could take with Halifax.

The Halifax remortgage process could take as long as 4 weeks but this is all dependent on your personal circumstances. If you are getting a remortgage on a non-standard construction property then you may find that it takes longer to get a remortgage.

This could also be the case if you have bad credit. You may need a specialist bad credit mortgage broker to assist you in finding a mortgage lender willing to offer you a remortgage.

If you are remortgaging from Halifax to another mortgage lender then you will need a Halifax redemption statement.

How much can you borrow from Halifax?

The amount you may be able to borrow from Halifax is completely dependent on your mortgage affordability but Halifax may offer a mortgage multiple of up to 5.

What happens after your fixed-rate Halifax mortgage deal is over?

During our Halifax mortgage review, we discovered that as with most mortgage lenders when your fixed-rate mortgage deal ends you will be moved over to the mortgage lenders standard variable rate deal. This is usually more expensive than the fixed-rate deal.

To avoid this you can remortgage at the end of your fixed-rate mortgage deal to a better mortgage than the standard variable rate deal you would have automatically been moved on to.

Halifax mortgage calculator

In our Halifax mortgage review, we found that Halifax had a mortgage calculator which you can use to get an idea of how much Halifax may be willing to lend to you.

You can find this calculator here.

Halifax mortgage deals

In our Halifax mortgage review, we considered the types of deals that Halifax had but we didn’t feel it necessary to include them here as the mortgage deals or remortgage deals offered by Halifax were subject to change at any time and the best way to see what mortgage or remortgage deals are currently available is to check with the respective mortgage lenders or your mortgage broker.

Can you get a Halifax mortgage with Bad Credit?

In our Halifax mortgage review, we considered if you could get a Halifax mortgage with bad credit.

In reality, it is very hard to answer this question as it depends heavily on the type of bad credit you may have.

Halifax mortgages will consider this and let you know if you are eligible for their mortgage products.

Bad credit could include:



A debt management plan

A default

A bankruptcy

A home repossession

Use a mortgage broker for your mortgage in principle

You may want to use an independent mortgage broker to help you get a mortgage on your new home.

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 rather 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 based on your mortgage affordability.

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 as more estate agents and sellers may take you seriously and it will also give you confidence that your mortgage is indeed a possibility before you make a full mortgage application. 

Once you have found a home you want to buy and are satisfied with the mortgage offer for your mortgage then the mortgage broker will then look to get you a mortgage offer.

This will come with a key facts illustration document that details the features of your mortgage including how much you will pay per month.

It will also contain information on 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.

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.