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Halifax Mortgage Rates Overview

Navigating the world of mortgages can often seem overwhelming, especially with the multitude of options available to potential homeowners. Halifax, a leading name in the UK mortgage sector and a key member of the Lloyds Banking Group provides a comprehensive range of fixed and tracker rates tailored to cater to various needs. As your dedicated mortgage broker, we're here to guide you through Halifax's offerings, ensuring you make an informed and beneficial decision.
In this guide
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    Halifax Current Mortgage Rates

    Interest rates are the bedrock of a mortgage. They play an instrumental role in determining the overall cost of borrowing over time and huge effect on costs associated with mortgage borrowing. Halifax mortgage rates, widely considered highly competitive, are determined by internal policies, external market conditions, and economic indicators.

    Being updated with Halifax’ mortgages existing fixed and tracker rates as well as variable rates is of paramount importance. These rates, subject to fluctuations based on various economic and market factors, can significantly impact your monthly mortgage repayments.

    Factors Influencing Current Rates:

    • Bank of England’s base rate
    • Inflation rates
    • Economic forecasts
    • Global economic conditions

    The current Halifax standard variable rate is 8.74% (If you’re on this rate get in touch with us today to secure a lower rate!)

    Below is a table for the current best Halifax mortgage rates in February 2024:

    Lender Type Initial Rate Initial Payment Reverting Rate Reverting Payment Total Fees APRC Total Cost
    Halifax 2 Year Fixed 4.79% £1,144.84 8.24% £1,542.85 £1,525 7.8% £30,436
    Halifax 2 Year Fixed 4.87% £1,152.92 8.74% £1,604.29 £1,099 8.1% £30,433
    Halifax 2 Year Fixed 4.93% £1,159.87 8.74% £1,606.33 £100 8.1% £29,602
    Halifax 3 Year Fixed 4.35% £1,093.65 8.74% £1,540.95 £1,099 7.0% £40,470
    Halifax 5 Year Fixed 4.35% £1,093.65 8.74% £1,540.95 £1,099 7.0% £66,718
    Halifax 5 Year Fixed 4.46% £1,106.05 8.74% £1,543.99 £100 7.0% £67,969
    The mortgage examples provided are based on purchasing a property worth £250,000 with a £200,000 mortgage over 25 years, representing an 80% Loan to Value (LTV) ratio. Keep in mind, actual rates and terms can differ due to individual financial situations and market changes. These figures are illustrative and intended as a guide; for advice tailored to your circumstances, consult a professional.

    Find the best Halifax Mortgage Rates using our tool, alternatively if your looking for specific mortgage rates visit the pages below.

    Get a Personalised Mortgage Rate!
    With our fee-free advisors, secure a rate tailored to you. Benefit from expert guidance and make informed decisions. Reach out today for a mortgage that fits your financial goals!

    Mortgage Rates Comparison Tool

    Why settle for one lender’s mortgage interest rates when you can get a personalised one? Our advanced tool allows you to access tailored rates based on your unique circumstances. We scan offerings from over 90+ lenders, ensuring you get a rate that’s perfect for you.

    Benefits of Using Our Tool:

    • Comprehensive market scan
    • Personalised rate recommendations
    • Access to exclusive deals
    • Fee-free advice from experts

    Halifax First Time Buyer Mortgage Rates

    Halifax offers a variety of fixed and tracker rates specifically designed for first-time buyers, aimed at making the home-buying process more accessible and affordable. These mortgage options consider the unique position of first-time buyers, providing features like lower deposit requirements and potential access to government schemes. Whether you’re looking for fixed-rate security or the flexibility of a tracker mortgage, Halifax has options to help you take your first step onto the property ladder.

    • Tailored Options: Mortgages designed with first-time buyers in mind.
    • Lower Deposit Requirements: More accessible entry points for new homeowners.
    • Access to Government Schemes: Support for buyers through Help to Buy and other initiatives.
    • Range of Products: From fixed to tracker rates, catering to different preferences and financial situations.
    Lender Term Initial Rate Initial Payment Reverting Rate Reverting Payment Total Fees Type APRC Total Cost
    Halifax 2 Year 5.41% £1,333.96 8.74% £1,837.30 £100 Fixed 8.3% £34,173
    Halifax 2 Year 5.41% £1,333.96 8.74% £1,836.22 £100 Fixed 8.3% £34,173
    Halifax 2 Year 5.15% £1,295.69 8.74% £1,834.46 £1,099 Fixed 8.3% £34,251
    Halifax 2 Year 5.15% £1,295.69 8.74% £1,833.28 £1,099 Fixed 8.3% £34,251
    Halifax 3 Year 4.72% £1,233.56 8.74% £1,812.93 £0 Fixed 7.8% £46,367
    Halifax 5 Year 5.03% £1,278.20 8.74% £1,786.83 £100 Fixed 7.4% £78,724
    Halifax 5 Year 4.92% £1,262.27 8.74% £1,783.88 £1,099 Fixed 7.4% £78,764
    Halifax 5 Year 5.23% £1,307.41 8.74% £1,790.84 £100 Fixed 7.5% £80,483
    Halifax 5 Year 5.12% £1,291.30 8.74% £1,787.91 £1,099 Fixed 7.5% £80,512
    The rates table below is based on a 95% LTV mortgage for a property worth £250,000, equating to a £237,500 loan. Remember, actual rates and payments may differ due to individual circumstances and market changes. These examples are meant to guide. For precise advice, consulting a mortgage advisor is recommended.
    Get a Personalised Mortgage Rate!
    With our fee-free advisors, secure a rate tailored to you. Benefit from expert guidance and make informed decisions. Reach out today for a mortgage that fits your financial goals!

    Halifax Mortgage Rates for Existing Customers

    Being an existing customer of Halifax mortgages comes with its perks. Beyond the trust and rapport built over time, these customers often find themselves at an advantage when it comes to rates of interest. They might be eligible for special rates, which can offer significant savings over the term of the loan. Such rates are not just about numbers; they’re a testament to Halifax’s commitment to rewarding trust and long-standing relationships.

    Did you know that when you remortgage with your existing lender, you can switch products seamlessly? This streamlined process, known as a Halifax Product Transfer, allows you to change from your current deal to a new mortgage deal without a full affordability check, making it quicker and easier than starting anew with a different lender.

    Below are the best Halifax rates for existing customers as of 20th February 2024, rates will very, get in touch to secure your best rate.

    Under 90%2 year Fixed5.88%30/04/26£090%
    Under 90%2 year Fixed5.57%30/04/26£99990%
    Under 90%5 year Fixed5.27%30/04/29£090%
    Under 90%5 year Fixed5.14%30/04/29£99990%
    Under 80%2 year Fixed5.51%30/04/26£080%
    Under 80%2 year Fixed5.20%30/04/26£99980%
    Under 80%5 year Fixed5.13%30/04/29£080%
    Under 80%5 year Fixed5.00%30/04/29£99980%
    Under 80%2 year Tracker5.97%30/04/26£080%
    Under 60%2 year Fixed4.83%30/04/26£060%
    Under 60%2 year Fixed4.52%30/04/26£99960%
    Under 60%5 year Fixed4.57%30/04/29£060%
    Under 60%5 year Fixed4.44%30/04/29£99960%
    Under 60%2 year Tracker5.79%30/04/26£060%

    Important Information About Halifax Mortgage Product Transfers

    The following table outlines each early repayment charge (ERC’s) applicable to Halifax mortgage products, indicating the charges over specific periods and their respective end dates:
    Product Term Period Charges End Date
    2 Year Fixed 1 2% until 30/04/2025 30/04/2026
    2 1% until 30/04/2026
    5 Year Fixed 1 5% until 30/04/2025 30/04/2029
    2 4% until 30/04/2026
    3 3% until 30/04/2027
    4 2% until 30/04/2028
    5 1% until 30/04/2029
    2 Year Tracker 1 1% until 30/04/2025 30/04/2026
    2 0.5% until 30/04/2026
    Halifax product transfer rates are priced across lending bands and loan-to-value ratios, offering tailored options to meet the diverse needs of its clients. Here’s a breakdown of how these rates vary and the maximum loan terms for each band:
    Lending Bands Loan-to-Value Bands Product Transfer Rates
    £0 to £99,999 Up to 60% Varies based on individual circumstances
    £99,000 to £249,999 Up to 75% Varies based on individual circumstances
    £250,000 to £7,500,000 Up to 85% Varies based on individual circumstances
    Up to 95%* Designed for clients close to or drifting into negative equity
    Up to 120%** Not available for new borrowers
    *These products are tailored to assist Halifax mortgage clients who are close to, or drifting into negative equity. **Not available for new borrowers. Actual product transfer rates depend on various factors, including but not limited to a borrower’s credit history, income, and specific financial situation. The final two rows indicate special considerations for those approaching negative equity with specific LTV bands designed specifically to help these customers.

    Halifax permits up to 10% of the outstanding mortgage balance to be overpaid annually without incurring ERCs, offering flexibility for managing mortgage debt effectively.

    Halifax now provides its existing mortgage customers with the unique ability to proactively manage their rates. Before the expiry of their current product term, customers have access to selecting and locking in an ideal Product Transfer rate up to six months in advance, creating an efficient financial strategy in an environment of ever-evolving rates of interest. This proactive approach promotes stability for long-term financial planning purposes. Example: If your existing mortgage rate ends on January 31st, then the 1st of August would be an ideal time to initiate the search for a new rate. Here is a schedule that can help you secure a new rate based on when your current one ends, along with when and how soon the start date for any potential new rates:
    Your current rate ends New rate can be secured from New Rate can start
    31st January 1st August 1st February
    29th February 1st September 1st March
    31st March 1st October 1st April
    30th April 1st November 1st May
    31st May 1st December 1st June
    30th June 1st January 1st July
    31st July 1st February 1st August
    31st August 1st March 1st September
    30th September 1st April 1st October
    31st October 1st May 1st November
    30th November 1st June 1st December
    31st December 1st July 1st January

    Halifax accommodates additional borrowing for various needs, emphasising competitive rates and streamlined processing:

    • Home Improvements
    • Extension
    • Land Purchase
    • Lease Extension
    • Family Gifts
    • Equity Increase in Shared Ownership
    • Co-owner Buyout
    • Debt Consolidation
    • Investment in Additional Properties

    Most lenders offer mortgages with product fees and some without. Opting for a product with a fee can result in substantial interest rate savings, exemplified below:

    • Scenario: If you’re borrowing £250,000 with a product fee of £1,499 and the interest rate difference between fee-inclusive and fee-exempt products is 0.25%, over five years, this equates to a saving of 0.25% per annum.
    • Savings Calculation: Annually, 0.25% of £250,000 amounts to £625, summing up to £3,125 over five years, thus significantly outweighing the initial fee of £1,499.
    Get a Personalised Mortgage Rate!
    With our fee-free advisors, secure a rate tailored to you. Benefit from expert guidance and make informed decisions. Reach out today for a mortgage that fits your financial goals!

    Halifax Buy to Let Mortgage Rates

    For individuals venturing into property investment, Halifax’s Buy to Let mortgage rates are specifically designed, taking into account potential rental income and the unique challenges property investors face.

    • Tailored for Investors: Designed with property investment in mind.
    • Rental Income Considered: Factors in potential rental earnings.
    • Investment Support: Addresses the specific needs of property investors.
    Term Rate Initial Payment Reverting Rate Reverting Payment Fee Type APRC Total Cost
    2 Year Fixed 5.18% £1,040.41 9.59% £1,502.98 £100 Fixed 8.9% £26,748
    5 Year Fixed 4.48% £969.77 9.59% £1,434.89 £100 Fixed 7.5% £59,823
    The below rates table is based on a Buy to Let mortgage with a 70% LTV, amounting to a £175,000 loan for a property valued at £250,000. Affordability and offered rates are closely tied to the rental yield, emphasisng the importance of selecting a mortgage that aligns with your investment's potential returns and financial goals. Rates will vary.
    Get a Personalised Mortgage Rate!
    With our fee-free advisors, secure a rate tailored to you. Benefit from expert guidance and make informed decisions. Reach out today for a mortgage that fits your financial goals!

    Why It’s Always Worth It to Shop Around All Mortgage Lenders

    While Halifax offers attractive rates for its existing customers, the mortgage landscape is vast and dynamic. Looking beyond Halifax’s rates to what other lenders offer can provide significant benefits. Here’s why:

    • Wide Range of Options: Different mortgage lenders have unique rates, special offers, or packages that may suit your needs better.
    • Chance to Save Money: By comparing offers, you ensure you’re getting a new deal that could lead to savings over the life of your mortgage.
    • Stay Ahead of Changes: The economy and lending standards are always shifting. Keeping up with these changes ensures you’re always on the best possible deal.
    • Smart Financial Management: Regularly reviewing your mortgage and considering other options is a smart way to manage your finances, ensuring you always make the most of your mortgage.

    Calculating Your New Monthly Payments

    Understanding the impact of switching mortgage interest rate can be essential in financial planning and ensuring affordability. Whether considering Halifax as your lender of choice or other options available elsewhere, calculating your prospective monthly payment provides valuable insight into how your commitments may change with any potential product switch or loan refinancing option. This calculation takes into account factors like interest rate change, loan amount, and remaining mortgage term to provide a comprehensive picture of future payments.

    Halifax customers and other mortgage borrowers pursuing product transfers or refinancing should know the importance of having an accurate estimate of their new monthly payment when considering different mortgage products and making informed decisions that fit within their financial goals and capabilities.

    To ease this process, we have developed a suite of mortgage calculators designed to give accurate estimates of monthly mortgage payments. These user-friendly tools cover a range of borrowing scenarios so you can find the ideal loan product.

    Mortgage Repayment Calculator

    By using our mortgage calculators, you can easily determine the financial implications of different mortgage rates and terms; giving you confidence to make decisions with confidence.

    Frequently Asked Questions

    Halifax rates of interest vary based on several factors, including the type of mortgage, loan duration, and market conditions. It's best to visit Halifax's official website or contact a mortgage broker for the most up-to-date rates.

    The Halifax 2 year fixed rate mortgage offers borrowers a consistent interest rate for a two-year period. This means your monthly repayments will remain the same for those two years, regardless of changes in the Bank of England's base rate or other market fluctuations.

    The Halifax 5 year interest rate refers to the fixed interest rate offered on mortgages with a five-year term. This rate remains unchanged for five years, providing borrowers with stability in their monthly repayments and protection against potential market rate increases.

    Halifax offers a range of rates depending on the mortgage product, loan-to-value ratio, and the borrower's circumstances. Rates can be fixed, variable, or tracker. For the most accurate and current fixed, tracker, and variable rate mortgages, it's advisable to check Halifax's official website or consult with a mortgage advisor.

    Perceived high rates from Halifax can be due to various reasons, including market conditions, the bank's internal policies, or economic factors. Additionally, rates might appear higher when compared to promotional or introductory rates from another mortgage provider. It's essential to consider the overall mortgage package, including fees, terms, and other benefits.

    Predicting future mortgage rate movements can be challenging. Rate changes are influenced by various factors, including the Bank of England's base rate, economic conditions, and Halifax's internal strategies. For insights on potential rate changes, it's best to monitor financial news or consult industry experts.

    How a Mortgage Broker Can Secure You the Best Rate

    While Halifax is renowned for its competitive rates and diverse offerings in the UK mortgage market, it’s crucial to explore the wider landscape to ensure you’re getting the best deal for your specific needs. This exploration is where the expertise of a mortgage broker, like YesCanDo Money, becomes invaluable. Here are the key benefits of partnering with a mortgage broker:

    • Comprehensive Market Overview: YesCanDo Money provides access to over 90 UK lenders and an impressive selection of 14,000 mortgage products, far beyond what any single lender can offer.
    • Tailored Financial Solutions: Our service is not just about finding a mortgage; it’s about crafting a financial solution that perfectly aligns with your personal and financial aspirations.
    • Expert Guidance: Navigating the vast mortgage landscape can be daunting. YesCanDo Money offers fee-free advice, guiding you through the process to ensure you find the ideal mortgage product that meets your needs.
    • Efficiency and Convenience: With expertise and access to advanced tools, YesCanDo Money can swiftly identify the best rates and deals, simplifying the mortgage process for you.
    • Personalised Support: Every borrower’s situation is unique. YesCanDo Money takes the time to understand your circumstances, providing personalised advice that respects your goals and financial situation.

    By choosing to work with YesCanDo Money, you’re not just securing a mortgage; you’re ensuring that your mortgage is the best fit for your current situation and future goals. Reach out to us, and let’s make your dream home a reality with the ideal mortgage solution.


    Fee Free Mortgage Advisor Team

    Fee Free Mortgage Advisors

    FREE dedicated support throughout, we have full-market access to the best mortgage rates & deals. We do everything for you, for free! Call us, WhatsApp us, or fill in our contact form and let us know what the best time is for us to call you. We will get one of our mortgage advisors will be in touch to talk through your situation and available options.
    Grant Humphries (CeMAP)
    Grant Humphries (CeMAP)

    Grant Humphries (CeMAP) is a proficient Mortgage & Protection Adviser at YesCanDo Money. With a career spanning since 2001, Grant has honed his expertise in understanding mortgage lenders' criteria, complex financial situations, and the nuances of the mortgage market. His deep knowledge enables him to provide tailored solutions, especially for professionals and those with unique financial profiles. At YesCanDo, Grant's commitment to excellence is evident. He takes pride in guiding clients through their mortgage journey, ensuring they feel confident and informed at every step. From first-time buyers to seasoned investors, Grant's analytical approach and dedication make him a trusted adviser in the financial landscape

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