Halifax is one of the UK’s largest mortgage lenders, and was awarded the Best Overall Mortgage Lender award by YourMortgage in 2017.
Halifax was founded as a building society in 1853, before becoming a public limited company in 1997 and becoming part of Lloyds Banking Group in 2009.
Halifax mortgage deals are available to a wide range of people, but they generally won’t lend to you if you have particularly bad credit.
Halifax is part of Lloyds Banking Group, so we looked at Lloyds’ customer complaints record between July and December 2017. During this period the Financial Conduct Authority (the financial regulator) received 3,907 officially upheld complaints from Lloyds mortgage customers, including Halifax customers.1 That’s around 0.2% of customers and is slightly lower than the 0.4% average across major lenders.*
*This number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.
Between July 2017 and July 2018, the average speed that Halifax processed a Trussle customer’s mortgage application was 13 days.* That’s a lot quicker than the 18-day average across all the major lenders we’ve submitted applications to.
Bear in mind that the speed of application will vary depending on your own personal circumstances and the lender’s present day-to-day performance. In some cases, applications can be approved by the lender within 24 hours, while some can take weeks or even months. This can also be impacted by the quality of application submitted, which is why you may want to consider using a mortgage broker. The average quoted speed therefore may not reflect your own experience.
*This number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.
Halifax could lend up to a maximum of 5 times income before tax, depending on your circumstances.
These details were last updated on 13th July 2018.
Use our online mortgage calculator to see what you could afford to borrow or save on your existing mortgage.
We’ll then search through thousands of mortgage deals from over 90 lenders including Halifax to find you the most suitable deal.
Based on securing a mortgage of £136,200 over a 25 year term. Reverts to SVR after initial 25 month period, costing £707.13 per month for 275 months. Total amount payable is £209,320.77 including interest and fees. This deal was last updated on 17th July 2018.
Based on securing a mortgage of £136,200 over a 25 year term. Reverts to SVR after initial 61 month period, costing £724.61 per month for 239 months. Total amount payable is £201,898.17 including interest and fees. This deal was last updated on 17th July 2018.
This rate was last updated on 17th July 2018.
Reverts to SVR after initial 25 month period, costing £943.90 per month for 275 months. Total amount payable is £279,554.77 including interest and fees. This deal was last updated on 12th July 2018.
Reverts to SVR after initial 25 month period, costing £707.13 per month for 275 months. Total amount payable is £209,120.77 including interest and fees. This deal was last updated on 16th July 2018.
This information was last updated on 16th July 2018.
It depends whether you want to pay off your mortgage early or simply reduce your monthly mortgage payments, as well as what type of mortgage you have with Halifax.
Whatever your circumstances, it’s best to check the terms of your own mortgage deal. If you have any questions, get in touch with Halifax directly.
Halifax doesn’t set a standard date for first payments. They’ll contact you shortly after they’ve released your mortgage funds to let you know when to pay your first instalment.
You’ll be able to pay by Direct Debit, standing order, or by using a debit card. Debit card payments will need to be handled over the phone or in branch.
If you don’t complete the purchase of your property within six months of applying for your mortgage with Halifax, your mortgage offer will expire.
If it looks like you won’t be able to buy your property in time, you might be able to apply for an extension. Otherwise, you’ll have to reapply from scratch.
Yes, Halifax will release your mortgage funds the day you take ownership of the property. So you should be able to pick up your keys and start moving in immediately.
The date you complete your purchase will need to be agreed between your solicitor and the seller’s solicitor. This will happen after you’ve signed a contract and paid your deposit for the property.
Yes, meaning you can view your mortgage balance and interest rate online at any time.
Before you can use the Halifax online banking portal, you’ll need to register. As well as viewing your current mortgage balance, you’ll be able to see all of your sub-account balances for an in-depth breakdown.
Halifax will let you know you need to change your mortgage. You may then be able to switch to a new deal online, as long as:
In all other circumstances, you’ll have to call Halifax, or visit a Halifax branch, to move over to a new deal. If you don’t remortgage to another deal, you’ll drift onto their Standard Variable Rate (SVR) deal which usually increases your monthly payments.
Just buildings insurance, to cover the bricks and mortar of your property, plus any fixtures and fittings.
They recommend you also take out contents insurance, but they don’t require you to. You’ll often find contents and buildings insurance included in a single package.
Halifax have no requirement for customers to take out life insurance or critical illness cover.
Yes, but they stopped doing so in July 2010. So there’s no chance you’ll be sold PPI alongside your mortgage if you chose Halifax today.
PPI pays out money to help cover monthly repayments on a loan, credit card, or mortgage if certain events prevent you from making payments yourself. The events covered depend on the terms of the PPI. If you think you were mis-sold PPI by Halifax, you can follow their complaints process.
We’ve reviewed some of the UK’s top mortgage lenders and measured their service, application speed, and affordability.
Trussle services are provided at no cost to you, we will receive a fee from the lender once the mortgage completes.
For insurance business we offer products from a choice of insurers.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Your savings will depend on personal circumstances.
There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
Trussle is a trading style of Trussle Lab Ltd, which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.
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