Switching your Halifax mortgage deal doesn’t have to be a headache. And you don’t need to go at this alone. At The Mortgage Pod, we’re all about keeping things clear, simple and stress-free. Whether your current deal’s ending or you just fancy checking for a better rate, let us handle the nitty-gritty so you can just focus on the good stuff—like saving money.
What is a Halifax Product Transfer?
A Halifax product transfer lets you switch your current Halifax mortgage to a new deal with them—no changing lenders, no drama. It’s ideal if your current fixed, tracker, or discounted rate is coming to an end and you want a fresh deal that works better for you.
Can I use a mortgage broker to complete a Halifax product transfer?
Absolutely! Using a mortgage broker (like us) can make the process smoother and quicker. We’ll look at your current deal, compare the options Halifax has on offer, and help you lock in the best one for your situation. We keep it simple so you don’t have to stress.
What is the process for a Halifax product transfer?
Check your current deal: Find out when your mortgage rate ends and check for any early repayment charges.
See what’s on offer: Halifax will show you their latest deals for existing customers.
Compare the options: A broker (like us) can help you weigh up the choices to make sure you’re getting the best deal.
Choose your new deal: Once you’ve picked, Halifax will send you a mortgage offer.
Monitoring: We keep a close on things, as interest rates can fluctuate before you complete. If they do, we’ll let you know and change your deal.
Finalise the switch: The day after your current deal ends, the product transfer will complete—usually with zero fuss and no paperwork overload.
Advantages of a Halifax product transfer
No legal faff: No conveyancing or legal fees—because you’re sticking with Halifax.
No property checks: No need for a new valuation.
Quick and easy: It’s a straightforward process with minimal hassle.
No financial deep dive: Halifax usually won’t reassess your finances unless you’re borrowing more.
Disadvantages of a Halifax product transfer
Limited options: You’re only looking at Halifax deals, not the whole market.
Not always the cheapest: Halifax’s rates might not be the absolute best out there.
No extra borrowing: If you need to borrow more, you’ll also need to compelte a further advance or consider a remortgage instead.
How to get the best rates on a Halifax product transfer?
Be proactive: Keep an eye on your mortgage end date and start looking early, such as 6 months before your current deal end.
Speak to a broker: Our team here at The Mortgage Pod will help you check Halifax’s deals and compare them to the wider market.
Weigh up your options: If Halifax’s rates aren’t quite right, we can help you explore remortgaging elsewhere.
What are the costs involved in a Halifax product transfer?
Halifax product transfers are usually cost-free when it comes to legal work or valuations. Some deals might have arrangement fees of £999.
If you switch before your current deal ends, early repayment charges could still apply, we’ll be sure to check these details for you.
Can I change or cancel a Halifax product transfer after receiving a mortgage offer?
Yes, you can change or cancel your Halifax product transfer before the new deal kicks in. Once it’s live, though, you’re locked in unless you’re happy to pay any fees to exit.
How far in advance can I reserve a new rate with Halifax?
You can usually lock in a new mortgage rate with Halifax up to 3 to 6 months in advance. It’s a great way to bag a better deal and protect yourself if rates go up.
Do I need an Agreement in Principle for a Halifax Product Transfer?
Nope! Nice and easy, you don’t need an Agreement in Principle (AIP) for a Halifax product transfer. Since you’re sticking with Halifax, the process is straightforward, with no affordability checks involved.
Is there a benefit to using a mortgage broker to complete a Halifax product transfer?
We think so, yes and here’s why:
We’ll make sure you’re getting the best deal Halifax has to offer.
We’ll give you clear, straightforward advice that suits your situation.
We keep a close eye on things, right up until completion.
If Halifax’s deals don’t cut it, we’ll help you look elsewhere so you don’t miss out.
Can The Mortgage Pod help me secure a product transfer with Halifax?
Of course we can, and we’d love to. At The Mortgage Pod, we make product transfers quick, easy, and totally hassle-free. We’ll handle everything, from comparing deals to locking in the best one for you. Just give us a shout, let’s Get Started!
Current mortgage with Halifax coming to an end?
Our team of expert Mortgage Advisers here at The Mortgage Pod specialise in Halifax product transfer mortgages and would love to help. Get Started here, phone us on 02392 989610 or email us on [email protected]. Then let us handle the rest.
FAQ’S
How long does a Halifax product transfer take?
It usually takes just a few days, as no legal work or property valuation is needed. It’s a quick and simple process and we’ll keep you updated throughout.
When can I reserve a new Halifax rate if I’m still in my current deal?
You can secure a new rate up to 6 months before your current deal ends.
What if interest rates change after I’ve reserved a deal?
If rates drop, you can ask Halifax for their new lower rate before your transfer completes.
Can a broker find me a better deal than Halifax?
Potentially, yes. A broker can compare Halifax’s offers to the whole market and find the best solution for your circumstances.
How to reserve my next Halifax mortgage product now?
Let our team here at The Mortgage Pod handle the heavy lifting for you, we’re ready when you are. Get Started here.
