For the use of mortgage intermediaries & other professionals only

Common Questions

This page contains answers to some commonly asked questions about our products and services

General questions

Product transfers

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    For simple Product Transfer applications on repayment mortgages, where no contract changes are required, you will be able to produce a mortgage illustration instantly using Halifax Intermediaries Online. If the client is happy to proceed, an on-screen declaration will allow you to offer the application in one straight-through online transaction.

    For interest only mortgages, or where the client wishes to make a change to their mortgage contract in addition to the product transfer, such as a change to the term, an element of review will be required; a Mortgage Illustration will be produced by our Refinance Team and made available online. You must accept the illustration to offer the application. You can do this by completing the Broker Declaration form(PDF, 40kB) available in the Mortgage Literature section of our website and upload using Halifax Document Upload service.

    The offer can be accessed via the Halifax Intermediaries Online Document Store.

    If the date of effect of the new product is the 1st of the following month the product transfer will complete as soon it is offered. If a future date of effect has been chosen you will receive an email in the month before effect to advise the product transfer has completed.

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    The same procedures and timescales as mortgage applications are applicable. Statements will detail the fees and transactions for each application type.

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    Product transfers (PT) applications can be submitted at any time in the month. The earliest a product transfer can take effect is the 1st of the following month. Where your client is within the last 6 months of an existing product they can forward date with no Early Repayment Charge, the new product will start on the 1st of the following month after the current product has ended.

    Where your client is within the last 3 months of an existing product you can choose to either start the new product from the 1st of the following month and we will waive any Early Repayment Charge OR forward date the new product to start after the current product has ended.

    If a customer has two separate products both ending within the 6 month dating window please see the detail under Multiple products in the product transfer window.

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    A product transfer can be keyed where your client is within the last 6 months of an existing product. The new product will start after the current product has ended, or where your client is within the last 3 months of an existing product you can choose to start the new product from the 1st of the following month and we will waive any Early Repayment Charge OR to forward date the new product to start after the current product has ended.

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    We will use the Halifax indexed valuation to calculate loan to valuation for your customer. To find out what the indexed valuation is, you should complete step one of the product transfer process.

    If your customer does not agree with the indexed valuation, we will arrange for an external valuation to be done. You should indicate that you need an external valuation to be carried out by completing the appropriate section of the Mortgage Illustration request form.

    Once we have received the external valuation, we will let you know so that you can tell us what product the customer wishes to proceed on.

    It should be noted that once the new external appraisal has been completed, this is the figure that will be used to assess loan to valuation. This applies even where the external valuation is lower than the original indexed valuation.

Further advances

Further advance & Product transfer