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Halifax mortgage review

Our Halifax mortgage review combines customer feedback with expert deal analysis to reveal whether the lender is worth considering next time you apply for a mortgage.

In this article
Halifax mortgages customer ratings What kinds of mortgages does Halifax offer? Does Halifax offer the best mortgage deals? Interest rates on Halifax mortgages How much could I borrow from Halifax?
Can I make overpayments? How can I contact Halifax? Halifax mortgage eligibility What Halifax mortgage customers say Get personal mortgage advice

Halifax mortgages customer ratings

Mortgages
Halifax review
Which? Customer Score
71%
Joint 8th out of 23 mortgage lenders
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
Compare Halifax against 22 other mortgage lenders

The table below shows how Halifax performed in our latest mortgage satisfaction survey, from application process to value for money.

Customer rating for: Star rating
Customer service

3 out of 5

Application process

4 out of 5

Value for money

3 out of 5

Keeping you well informed

3 out of 5

Clarity of statements

3 out of 5

Transparency of charges

3 out of 5

Query and complaint handling

3 out of 5

Ability to overpay or underpay mortgage

3 out of 5

Online access

3 out of 5

 

Star ratings based on a June 2018 Which? survey of 3,560 members of the general public, in which 384 people told us they had their mortgage with Halifax.

What kinds of mortgages does Halifax offer?

When we checked in July 2018, there were more than 400 mortgages available from Halifax. Most were fixed-rate deals lasting two, three or five years.

Does Halifax offer interest-only mortgages?

Yes; the most you could borrow is 75% of the property’s value.

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Does Halifax offer the best mortgage deals?

Which? analysis has found that Halifax offers far fewer cheap mortgages than the average lender.

In order to work this out, our experts analysed thousands of mortgages over a four-week period in June and July 2018. They compiled a total of 108 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average number of times a lender made it into a table was 14, but Halifax didn’t feature at all. (Data source: Moneyfacts.)

Interest rates on Halifax mortgages

When we checked in July 2018, most mortgages offered by Halifax were fixed-rate deals, meaning your interest rate is guaranteed to stay the same for a set number of years.

While Halifax doesn't offer many table-topping deals, the 2.65% average interest rate of a two-year fixed-rate mortgage from the lender is still cheaper than the industry average of 2.81%.

When we asked Halifax mortgage customers about the interest rate they were paying, around four in 10 said they were currently paying between 2% and 2.99%.

How much could I borrow from Halifax?

Below we’ve outlined how much you could borrow from Halifax in relation to the percentage of the property’s value.

Maximum loan amount Loan-to-value
£500,000 95%
£750,000 90%
£750,001 - £1,000,000 85%
£1,000,001 - £2,000,000 80%
£2,000,001 - £5,000,000 70%

For new-build properties, the most you can borrow is 85% of the property’s value.

Can I make overpayments?

You may have to pay an early repayment charge (ERC) if you make an overpayment during an ‘early repayment charge period’ of a Halifax mortgage.

However, some Halifax mortgages have an 'early repayment charge concession', meaning you’d only have to pay an ERC if your overpayment went over a certain limit.

Halifax customers with a mortgage where an ERC applies can currently make overpayments every year of up to 10% of the amount owed on 1 January without having to pay an ERC.

How can I contact Halifax?

Halifax can be contacted on 0345 850 3705.

Its website is halifax.co.uk.

Halifax mortgage eligibility

First-time buyers

If you’re a first-time buyer, you’ll normally need to provide a deposit of at least 5% of the property price.

You’ll qualify for a first-time buyer mortgage from Halifax if you’ve never had a mortgage or bought a property before. If you’ve inherited property, you’ll still qualify.

If you’re applying for a mortgage specifically for first-time buyers with another person, only one of you needs to be a first-time buyer in order to be eligible.

Gifted deposits

Halifax won’t accept gifted deposits from friends, cousins, or aunts and uncles related to you through marriage.

Leasehold properties

If you’re applying for a Halifax mortgage on a leasehold property, there must be at least 70 years left on the lease at the time you apply.

Mortgages for older borrowers

The oldest you can be at the end of a mortgage with Halifax is 80 years old, which is higher than most other lenders.

What Halifax mortgage customers say

Get personal mortgage advice

Correct as of date of publication.

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