Are you looking to buy a property and need to know what the current Halifax mortgage rate is? After the fixed period, all Halifax mortgages have a follow-up rate (currently 8.84%) that is +4.34% above the Bank of England bank rate. Product fees can be paid in advance or added to the mortgage. For example, if you take out a mortgage of £120,000 on a property valued at £200,000 for a term of 25 years, the rate is fixed for 26 months and then returns to the lender's variable rate of 3.59%. When choosing the best Halifax mortgage offer for your circumstances, you'll need to consider the value of the property you want to buy, how much you can offer as a deposit, and how much you can pay each month.
To use the free mortgage calculator, simply go to the top of the page and select the type of mortgage you're looking for. Halifax also offers mortgages for first-time buyers if you're looking to enter the real estate ladder, including help buying mortgage products. Halifax doesn't want you to make this decision without proper advice, so they offer the lowest interest products only through approved and regulated mortgage brokers, such as A Mortgage Now. Mortgage interest rates for products with commission can be significantly lower than the interest rates for products without product commission. The fixed-rate mortgages currently arranged do not rise with the Bank of England's base rate; however, the increase in BOE rates does put pressure on future fixed rates to rise. To be eligible for a product that you buy for the first time in Halifax, at least one applicant must not have previously held a mortgage or purchased property in the United Kingdom or abroad. For mortgages requested before this date, the Halifax Standard Variable Rate (SVR) will apply. Halifax mortgage prices are sometimes the most competitive in the market, but they're not looking to win business just because of the price.
It's possible that the terms of your particular mortgage agreement with Halifax can be transferred to your new mortgage or, in fact, you can “transfer” your current mortgage. When it comes to finding out what your current Halifax mortgage rate is, it's important to consider all factors before making a decision. Make sure to use a free mortgage calculator and speak with an approved and regulated mortgage broker before making any decisions.