If you are trying to find the right lender to remortgage with you may have been wondering what Halifax could offer you. To find out the latest Halifax rates on home mortgages you could use their remortgage calculator to get an estimate.
Remember however when you use a tool like this it does not guarantee that you will be able to borrow the amount stated, factors such as if you have an adverse credit score or have previously had a home repossessed may prevent you from taking out from remortgaging with a lender.
The most important thing when you remortgage, whether it’s to raise release equity you have accumulated to raise funds to pay for something else, or to just return to an initial rate and save money, getting the best deal you can is vital. After all once you have committed to one you are in most cases going to be making repayments on it for several years. Therefore you should do some research and shop around, there’s a diverse range of mortgages available on the market and like other financial products they can vary greatly between different lenders and plans. Remember that Halifax is just one of many different mortgage lenders.
You can use the table above to compare some of the latest remortgage deals from various different lenders to see what might be available to you.
When comparing different remortgages remember to factor in any arrangement fees and other costs to work out what would be most suitable for you, if a mortgage with very low APR has high arrangement and administrative fees, or vice versa, it could cost you more than some other plans available to you.
Different types of mortgage repayments
- Fixed Rate – With a Fixed Rate mortgage your interest payments are the same throughout the course of the deal, so you know how much you will be paying throughout it.
- Tracker – Tracker Mortgages are linked to the Bank of England’s base interest rate. This means that if the Bank of England either raises or lowers its base rate the interest you pay on your mortgage will also change to reflect this.
- Discount – Discount mortgages are similar to trackers but instead of your interest rate being reflective of the Base Rate it is affected by your lender’s specific Standard Variable Rate. The SVR is the rate many mortgages revert to once you move out of your introductory deal.
- Offset – This type of mortgage works by tying your savings to your mortgage. This usually means that you stop earning any interest on your savings instead the interest is used to offset your mortgage interest repayments. Lenders will allow you to either pay less each month, or to treat the difference as an overpayment, thus paying off your loan earlier.