How does the mortgage process work?

A dedicated mortgage advisor in Halifax will carry out a Fact Find to work out what your personal needs are prior to recommending the most suitable mortgage for you. In order to get an Agreement in Principle, you’ll be required to have a credit check. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be formally issued a mortgage offer.

How does the free remortgage consultation work?

Your free remortgage consultation in Halifax will usually last no more than around 30 mins. Your mortgage advisor will then help you compare deals and decide what the best plan of action going forward is. If you wish to back out at any point, you have the freedom to do so; there is no obligation to proceed.

Are there fees involved in Remortgaging?

Your remortgage fees will be more or less the same as your initial mortgage, though your dedicated Mortgage Advisor in Halifax will run through the fees with you anyway, taking them into consideration when comparing the savings of the new deal versus your current mortgage.

Can I get a second mortgage in Halifax?

If you are looking at some future financial planning or home renovation like debt consolidation or Home Improvements, you may be eligible for a second mortgage. It can be possible to take out a mortgage on a second property for your own use, for a family member, for a holiday home or even for a Buy to Let.

Can I get a mortgage with previous credit problems?

If you have had a recent history of credit problems a mortgage may still be within reach, though you may possibly be required to put down a higher deposit than usual. We find that this figure is commonly around 15% of the property purchase price.

Can I consolidate my debts?

If you have accrued any debts over the course of your mortgage term, you may have the option available to you to remortgage and increase the size of your mortgage to pay them off. This is not something we recommend rushing into though as there are downsides to it. We would highly recommend that customers always look to seek specialist Mortgage Advice in Halifax before consolidating any of their debts!

Why should I bother to remortgage?

If you are on your lenders SVR (Standard Variable Rate of Interest) you may possibly have the chance to save money. One of our dedicated advisors will compare the new products available against your current mortgage deal, in order to work out what your savings may be. If you have any existing equity in your property, a remortgage also gives you the opportunity to release some of this money if it is needed for anything, with popular options being things like home improvements.

What documents will I need to send?

It will typically be the last three payslips for employees to prove their income to the lender and the latest 2 years’ accounts if you’re a Self-Employed applicant. You will also need to provide your mortgage lender with some proof of ID, address and 3 months’ bank statements.