The Halifax is the biggest mortgage and savings account supplier in the United Kingdom. Its name is from the town of Halifax in West Yorkshire and this is where its headquarters are based. The Halifax has a well-known catchphrase “A Little Extra Help”. The Halifax used to be known as the Halifax Building Society.

The different types of mortgages on offer with the Halifax are First Time Buyer Mortgages; Fixed Rate Mortgages; Buy to Let Mortgages; Tracker Mortgages and Remortgaging.

First Time Buyer Mortgages

If you are a First Time Buyer then there are a few checks that the Halifax will want to run, such as checking your credit score (this helps determine if you are able to afford the repayments so you don’t have any problems in the future). They will assess all the information you supply when completing the application form and check how you may have coped previously with your credit cards or any loans. So the main points they check are:

• If you can afford the repayments
• What sum you would be able to loan
• Details of your past credit

Fixed Rate Mortgages

A Fixed Rate Mortgage gives you the peace of mind because the interest rate is set for a certain period of time and therefore your monthly mortgage payments will not alter even if the Bank of England Rates rise or fall.

The Halifax has a selection of Fixed Rate Mortgages to choose from with terms of two, three or four years.

Here is an example of a two-year mortgage with a Loan to Value of more than 75%

• The initial rate is 3.69% until the 30th November 2013
• Increasing to the Halifax Homeowner Variable rate which presently is 3.99% after that
• There is a product fee of £995
• The Loan to Value (LTV) is 75% to 80%
• There is an early repayment fee until 30th November 2013
• The amount of the loan can be anything from £0 to £ 1 million.

Here is an example of another two-year mortgage:

• The initial rate is 4.99% until the 30th November 2013
• Increasing to the Halifax Homeowner Variable rate which presently is 3.99% after that
• There is a product fee of £0
• The Loan to Value (LTV) is 75% to 80%
• There is an early repayment fee until 30th November 2013
• The amount of the loan can be anything from £0 to £ 1 million.

Here is an example of a four-year mortgage:

• The initial rate is 5.54% until the 30th November 2015
• Increasing to the Halifax Homeowner Variable rate which presently is 3.99% after that
• There is a product fee of £995
• The Loan to Value (LTV) is 75% to 80%
• There is an early repayment fee until 30th November 2015
• The amount of the loan can be anything from £0 to £ 1 million.

Fixed Rate mortgages with Loan to Value of less than 75% are available for a three -year term and there are two such mortgages.

Here is an example of a two-year mortgage with a Loan to Value of more than 75%

• The initial rate is 3.54% until the 30th November 2014
• Increasing to the Halifax Homeowner Variable rate which presently is 3.99% after that
• There is a product fee of £795
• The Loan to Value (LTV) is 0% to 60%
• There is an early repayment fee until 30th November 2014
• The amount of the loan can be anything from £0 to £ 1 million.

Tracker mortgages

Tracker mortgages track the Bank of England Base Rate and can increase or decrease. They are also sometimes referred to as Variable Rate Mortgages. The rate percentage of a tracker mortgage is normally higher than the rate the mortgage is following. Therefore if the base rate of the Bank of England is 5.25% then the base rate for the tracker mortgage will be around 1% above the tracker rate. Which would mean the base rate mortgage would be 6.25%. The Halifax has two types of Tracker Mortgages on offer; an 18-month period or a two-year period.

Below is an example of a Tracker Mortgage for an 18-month period with a Loan to Value of more than 75%

• The initial rate is 5.29% until the 30th November 2013 plus 4.79% current Bank of England Bank Base Rate
• Increasing to the Halifax Homeowner Variable rate which presently is 3.99% after that
• There is a product fee of £1,495
• The Loan to Value (LTV) is 75% to 85%
• The maximum amount of the loan is £ 1 million.

Below is an example of a Tracker Mortgage for an 18-month period with a Loan to Value of less than 75%

• The initial rate is 3.99% until the 30th November 2013 plus 3.49% current Bank of England Bank Base Rate
• Increasing to the Halifax Homeowner Variable rate which presently is 3.99% after that
• There is a product fee of £1,495
• The Loan to Value (LTV) is 0% to 75%
• The maximum amount of the loan is £ 1 million.

The Halifax is a well-known brand and has been around for many years and is well respected. They have many branches throughout the UK.