In an increasingly competitive market place, remortgaging your property could save you thousands of pounds and can be a relatively simple process.
More Britons have a Halifax mortgage than any other type. A Halifax remortgage offers an easy-to-use online site, with tracking of progress an in-principle agreement in as little as 15 minutes.
Halifax mortgages fall into three main types: Fixed Rate, Tracker and Variable.
With a Halifax remortgage, you could choose from one of the following packages:
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Fixed Rate Mortgage: this mortgage offers the security of a fixed interest rate, no matter if the Bank of England base rate changes. This mortgage gives you the freedom to choose a fixed rate period, over a short or long term.
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Tracker Mortgage: linked to the Bank of England base rate, a Tracker Mortgage allows you to benefit from low interest rates. However, if interest rates rise, then you need to be prepared to pay increased interest.
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Flexible Mortgage: a flexible mortgage gives you the freedom to pay off your mortgage early through increasing your monthly payments. Equally you can free up extra cash by reducing your payments, though payments will still need to be repaid over the life of the loan. You can also ‘borrow’ money from a cash reserve, at the same rate as your mortgage.
Halifax review
A commercial UK-based bank, and part of the HBOS Group, Halifax plc is named after the town of Halifax in West Yorkshire where the bank has its headquarters. Until 1997 it was known as the Halifax Building Society, the biggest in the UK. The Halifax is the UK's largest provider of residential mortgages and savings accounts.