Halifax mortgages
Compare our best Halifax mortgages. Explore a detailed review of one of the UK's best-known mortgage lenders
Quick stats
Part of UK's largest lender
Halifax is part of Lloyds Banking Group, which lent £42bn in 2018. That's 16% of all mortgage lending.
Borrow 5 x your income
You could borrow up to this amount if you meet Halifax's requirements.
6 day approval time
That's 15 days faster than the average approval time of lenders we measured.
About Halifax
Halifax is part of Lloyds Banking Group, one of the UK’s largest mortgage lenders.
The group provided 15.8% of all mortgages in 2018, a total of £41 billion¹.
Halifax offers mortgage deals to many people but often will not lend to you if you have bad credit.
In this review we'll cover:
Compare Halifax mortgages
Compare Halifax mortgages and see how your monthly payments would change depending on the initial period, total mortgage length, your deposit and how much you want to borrow.
After you choose a Halifax mortgage deal, one of our expert mortgage brokers can check whether you're eligible and help arrange the mortgage for you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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Is Halifax a good mortgage lender?
We're looking at public complaints data to estimate Halifax’s quality of service
There were 5,118 complaints from Halifax mortgage customers between July and December 2019.²
That’s around 0.43% of customers and is lower than the 1.06% average across major lenders.*
Halifax scorecard:
Halifax is a good mortgage lender for government scheme mortgages, such as Help to Buy, Shared Ownership and Right to Buy
Halifax does not offer the cheapest mortgages when compared to other lenders³
Halifax offers high LTV mortgages
*The 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.
How long a Halifax mortgage application takes
Between January and July 2020 it took Halifax an average of 6 days to process mortgage applications from Trussle customers.*
That’s 15 days faster than the 21 day average across all the lenders we’ve submitted applications to.
What affects the time taken to approve my application
The time it takes a lender to approve an application depends on your personal circumstances and how busy the lender is.
It can take as little as 24 hours to approve some applications but some can take weeks or even months.
The quality of the application can affect the approval time. A mortgage broker can help by making sure your application has all the details the lender needs.
These details were last updated on 8th August 2019.
How much you can borrow from Halifax
Halifax could lend you up to 5 times your salary.
How much you can borrow will also depend on your:
credit history
debts
deposit
regular expenses and bills
age
See how much you might be able to borrow with our mortgage calculator.
These details were last updated in July 2020.
Halifax mortgage calculator
Calculate how much you may be able to borrow with a Halifax mortgage. Calculate your monthly Halifax mortgage repayments.
You could borrow up to:
Your home could be repossessed if you don't keep up repayments on your mortgage.
Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.
Types of mortgages Halifax offers
Halifax offers a variety of mortgages for different types of customers.
They offer:
Tracker mortgages
Home mover mortgages
Halifax offers home mover mortgages for people looking to move house.
Find out more about moving house in our guide.
Getting a Halifax mortgage
Your Halifax mortgage offer will generally expire after 6 months if you do not complete the purchase of your property.
However, some Halifax mortgage products have earlier expiry dates. Check with your lender to be sure how long your offer is valid for.
If it looks like you will not be able to buy your property in time, you might be able to apply for an extension. Otherwise, you’ll have to reapply.
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.
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:
you don’t need any advice
you don’t need to change your mortgage size
you aren’t changing your mortgage term
you don’t have an interest only mortgage
In all other circumstances, you’ll have to call Halifax, or visit a Halifax branch, to move over to a new deal.
If you do not remortgage to another deal, you’ll be moved onto their Standard Variable Rate (SVR) deal which usually increases your monthly payments.
Halifax mortgage payments
Halifax does not 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.
How much you can overpay depends on 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.
Insurance
You’ll only be required to have buildings insurance. This will cover the bricks and mortar of your property, plus any fixtures and fittings.
Halifax may also recommend that you 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 will not require you to take out life insurance or critical illness cover.
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Sources
Deal and rate data was sourced by Trussle. All other information was sourced from Halifax's own website, unless referenced below.
¹ UK Finance
² Financial Conduct Authority
³ Which?: Halifax mortgage review
