Halifax mortgage - should I change?

M

Me again!

Guest
I have a mortgage with Halifax (Bank of scotland), they have shut down their operation in Ireland but retain my mortgage (variable rate), I'm just wondering if should I change, i presume they will increase their rates same as other banks or would i be better to stay with them?
 

Brendan Burgess

Founder
Messages
37,480
What rate are they charging you at the moment?
How much cheaper would it be elsewhere?
You have no guarantee that the lender you transfer to won't up the rates after you join.
Can you even transfer a mortgage these days?

Wait and see.

I think that they are offering €2,000 to transfer your mortgage at the moment.

I suspect that this will rise as they try to wind down their mortgage book quicker.
 

TLC

Frequent Poster
Messages
454
I've a similar query, we have an interest only mort with BOS for a rental property which is paying it's way - at the moment - we have enough cash to pay it off if we want to. Would there be any sense in clearing it? If we sold it would (just) pay off the mortgage, that's if we could actually sell. Any thoughts anyone?
I know we more than likely wouldn't get interest only anywhere else, so should we just wait & see what happens?
 
M

Me again!

Guest
Think they are offering €1000 towards legal costs and €150 towards valuation, i think my rate is 2.60 apr, i starting to think i'm probally no worse off than being with any other bank!
 

geriatric

Frequent Poster
Messages
54
Last year I contacted Halifax regarding my mortgage and I received in writing a gaurantee that my rate (2.6%) will only rise in line with the ECB rate for the duration of the mortgage. I'm happy with this as it cuts out any nasty bank increases.
 
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