Useful Tools

Lending Criteria Search Tool

Our Lending Criteria Search Tool has been designed to help you find further information about our underwriting policies.

If you're looking for information specific to either Mortgages or Further Advances and Product Transfers, then you can use the option below to narrow down your results. Then, simply click on a letter to browse all the entries, or enter a search term and click 'Go'

Halifax Lending Criteria: Your A-Z Guide
Halifax Lending Criteria: Your A-Z Guide
File size: 340Kb
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Alphabet listing
Either select a letter to look at:
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or:

Keyword search
 

Results for letter a

Acceptable reason for a Further Advance
Further Advance & Product Transfer

It is important that the purpose of capital raising should be investigated. A secure e-mail detailing the exact reason for the capital raising must be sent to the Local Processing Centre with the heading ‘Please pass to BA’. Documentary evidence is only required where total lending is more than 75%. Where total lending is less than 75% and the credit score pass is A or B, the restrictions below do not apply.

The list of acceptable reasons on the system are:

  • Business purpose (restriction – not for injection of capital)
  • Consumer goods (restriction – not for holidays)
  • Debt Consolidation
  • Gift to relative
  • Home Improvements (Shared Ownership included)
  • Investment purpose (restriction – not for currency speculation)
  • Purchase Freehold – (conveyancer required)
  • Purchase additional land adjacent to property (conveyancer required)
  • Purchase extension to lease – (conveyancer required)
  • Purchase Additional Share (Shared Ownership)
  • Repay subsequent charge (refer to subsequent charge section before proceeding)
  • Repairs
  • Second home loan (restriction – not for purchase of a time share)

N.B. These circumstances have some important restrictions:

  • Right-to-Buy – Home Improvements only if within first 2 years of the discounted period
  • Purchase of a second home (see Lending Limits)
  • Second homes – Home Improvements only
Agreement in Principle (A.I.P.)
Mortgages

Please see notes on Mortgage Promise.

Arrears
Mortgages

Applications where previous mortgages have been in arrears will be considered on an individual basis, unless previously taken into possession by a lender.

Arrears
Further Advance & Product Transfer

Where the mortgage has been at least one month in arrears within the last 3 months, a Further Advance Application cannot be accepted. The client should be advised to bring their account up to date and be ‘arrears free’ for at least 3 months before re-applying.

This rule also applies to any stand alone Product Transfers that you may wish to process, however, you can process the Product Transfer as soon as the account is up to date with no requirement to wait 3 months.