For the use of mortgage intermediaries & other professionals only

Halifax Intermediary news

  • Halifax will continue to support customers requiring mortgages with higher loan to values following the closure of the government mortgage guarantee scheme on 30 June 2025.  Mortgages up to 95% loan to value (LTV) will remain available for first time buyers and homemovers buying their home.  After 30 June for mortgages above 90% to 95% LTV the ‘Homebuyer Special’ scheme should no longer be selected.

    Please see our criteria for loans above 90% LTV

  • What’s new? 
    From today we’re improving our income policy for some customers who will now receive better affordability outcomes:

    • Customers who receive bonuses and have changed employer
    • NHS workers undertaking different types of overtime

    Key changes 
    To calculate bonus income we use the lower of the bonus received in the latest year or the average of the bonus received in each of the last 2 years.

    For customers who receive annual bonuses will now include a bonus from the previous employer received in the previous year when calculating the 2 year average.

    NHS overtime

    Two income types which are a feature of NHS pay can be included as overtime: 

    • Waiting List Initiative   - a centrally funded form of overtime specifically designed to address the backlog of operations
    • Additional Programme Activity - additional programmed activities which basically constitutes pre agreed overtime

    More information

    Previous employer bonuses

    • The latest year’s bonus payment(s) received must be from the current employer
    • All pay slips showing bonus income for the latest 2 years are required including pay slips from the previous employer
    • There is no change to the amount of bonus used within our affordability calculation which remains at 60% to reflect the variable nature of this income type 
    • There are no changes for commission income which must be received from the current employer

    Example:

    Current employer: latest year’s bonus received £50,000
    Previous employer: previous year’s bonus received £40,000

    We would previously have asked you to key a £25,000 bonus as a 2 year average, including zero bonus for the previous year (£50,000 + £0 = £50,000 divided by 2 = £25,000). Now a £45,000 bonus would be keyed (£50,000 + £40,000 = £90,000 divided by 2 = £45,000).

    NHS overtime

    There are no changes to the treatment of any other income types received by NHS workers, which may be treated as additional duty hours (ADH), shift allowance or overtime as before.

    Please see our Income keying and acceptance page

  • What’s new? 
    We are making changes to our mortgage affordability calculations meaning many customers will be able to borrow more. Typical customers may see an increase of around 13% in the maximum loan available.

    Key changes 
    From 15 April, we have reduced the stress rates used in our standard affordability calculation, plus when we offer enhanced affordability with 5 year+ products and for some like-for-like remortgage applications. These changes will benefit customers wanting to purchase or refinance their home. For example, a typical household of 2 adults with 2 dependants, a household income of £75,000 and average credit commitments could see the amount they can borrow increase by £38,000. This assumes a 25% deposit, 2 year product and 25 year term.

    Key information
    These changes will apply to applications started from 15 April.

    Stress rates are one element used in responsible affordability assessments. The maximum loan available on a particular application will depend on individual circumstances and loan to income (LTI) limits may apply.

    Use our Mortgage affordability calculator or Key a Decision in Principle (DIP)

  • What’s new? 
    We’re making it easier for you when the maximum loan amount available on a Decision in Principle (DIP) is lower than the loan amount requested. The Alternative Lending Proposal (ALP) result will include a new message where the total credit commitments declared on an application are lower than the commitments showing from our check of credit bureau information.

    Key changes
    When applicable the below message will now show on new applications: ‘The total monthly commitments declared on the application are lower than those being included in our affordability calculation from credit bureau information. Please review the commitments keyed with the applicants.’

    Key information
    If the Alternative Lending Proposal (ALP) maximum loan is lower than you expected, by comparison with our website affordability calculator, whether the new message is showing or is not showing you will know if you should focus on the commitments or check other sections of the application keying

    As a reminder credit bureau information may include recently repaid commitments and you should include these commitments when keying an application, marking them as ‘to be repaid’.

    We are continually looking at ways to improve your experience when keying new applications.

    Use our Mortgage affordability calculator or Key a Decision in Principle (DIP)

  • What's new?

    We are reducing the minimum further advance loan amount from £10,000 to £5,000 for existing Halifax mortgage customers looking for additional borrowing. 

    This will provide customers with more choices for borrowing smaller amounts and supports customers looking for lower cost retrofit measures to improve the energy efficiency of their property. 

    Additionally, we will now accept non-sterling income on a further advance application. 

    Key changes

    From today, Monday 17 March, the minimum further advance loan amount is £5,000 

    Non-sterling income can be accepted on a further advance, or product transfer application where a full affordability assessment is required. The original mortgage application did not need to include non-sterling income for it to be used on the new application. 

     

    Key information

    This change applies to applications made from intermediaries only. 

    The minimum further advance amount for applications made to our direct channel is £10,000.  We will apply this change to direct applications very soon, but for now the change applies only to intermediary further advance applications.  

    As usual a different term can be selected for the further advance amount to the main mortgage amount e.g. if a shorter term is required for a smaller loan amount or where the purpose of the further advance is debt consolidation. 

    For details of the currencies and income types we accept for non-sterling income please see our criteria section.   

    We recently launched our new and improved further advance process to help you to support existing Halifax mortgage customers and this can be combined with a product transfer application. 

    More about further advances

  • What’s new?

    We are improving how you can let us know if a vulnerable customer needs more support.

    We want all customers to be able to make the most of their mortgage products or services with us. By understanding their situation, we can be flexible and give them the help they need.

    You can now ask for one of our trained colleagues to call the customer to discuss any extra support they may require.

    Key changes

    If you need to tell us of a customer’s additional support requirements due to vulnerable circumstances, call our Mortgage Operations teams within 30 days of the mortgage completing on 0345 030 6253 (lines are open 8am to 6pm, Monday to Friday).  

    You can either register the customer’s additional support needs or ask that a trained colleague calls the customer to discuss how we can help them. 

    Key information

    More information on how to identify and support customers who may have specific needs as a result of a vulnerability can be found on our Vulnerability guidance for brokers support pack (PDF, 21MB)

    The FCA also have guidance available for firms on the fair treatment of vulnerable customers (PDF, 646KB)

    When calling you will need to provide:

    • confirmation you have the customer's consent to discuss 
    • customer name
    • mortgage account number.

    If you would like our colleagues to call the customer, please ensure you also have the following when calling:

    • confirmation you have the customer’s consent for us to call them
    • best customer contact number
    • best date and time to call the customer.

    For new mortgage customers you will need to wait until the mortgage has completed before calling.  If you need to register a support need for a customer whose mortgage has been open for more than 30 days, we will advise you to ask the customer to contact our servicing team to discuss and record the support they need to manage their mortgage.

  • What's new?

    Following your feedback we’ve added a new interest only calculator to our website’s Calculator and tools page.

    The calculator shows how much we could offer customers on an interest only, or part-interest only basis, particularly when using the Sale of Mortgaged Property (SOMP) repayment plan.

    Key information

    • The calculator will show the maximum loan we could offer on interest only, or on a part-interest only/part-repayment basis.
    • The result on SOMP will take into account the various tiers for the amount of equity needed.
    • Use our mortgage affordability calculator to check the maximum loan affordable for a particular customer.

    Find out more about the interest only criteria

    Try our interest only calculator

  • What's new?

    This is a reminder that from 2 February we are introducing a new offer acceptance step into our product transfer (PT) process.

    We are making this change to align our PT process with other application types and simplify when the customer can cancel a product transfer application.

    Once a PT is offered the product is secured (if available products change or there is a change to the property’s indexed valuation) but you will need to confirm the customer accepts the offer for the PT to take effect.

    Key changes

    • All PT offers must be accepted online.
    • PTs can be cancelled before they have taken effect, but once a PT has taken effect this cannot be cancelled.
    • These changes will apply to PT applications offered from 2 February. 

    New action required

    When keying a PT you’ll come to a new screen ‘Review the offer’.

    You just need to view the offer document and tick the box to confirm the customer(s) accept the offer. Then click the ‘Submit the application’ button and you will see an ‘Offer accepted’ screen. No further action is then required.

    You can exit an offered application without accepting the offer and when you re-enter the application you will be taken to the ‘Review the offer’ screen to accept the offer.

    Key information

    The Home page application tiles will clearly show any PT applications where the offer has not been accepted with a red warning message:

    Action required: Please accept the offer. The Product Transfer will not proceed until the offer is accepted.

    After you have received the email to advise the offer has been produced you will not receive any further emails to remind you that an offer has not been accepted. It is important you accept the offer as soon as possible to avoid any PTs not taking effect as intended.

  • What’s new?

    From Wednesday 29 January 2025, we are simplifying our non-UK nationals policy to make it easier for you and to support more customers.

    Applications can be considered for non-UK nationals up to 95% loan to value (LTV).

    Our non-UK nationals criteria section has been updated to reflect this.

    Key changes

    When a next step message shows ‘Proof of permanent right to reside in the UK is required for at least one applicant’ the proof of permanent right to reside, or proof of more than 5 years residency in the UK, is required for one applicant on a joint application.

  • What’s new?

    From Wednesday 29 January (2025), we'll be supporting more customers as we will now:

    • accept a gifted deposit from an applicant’s partner or ex-partner who will not be residing in the property.
    • allow a concessionary purchase at a discounted purchase price, where the vendor is the applicant’s partner or ex-partner who will not be residing in the property.

    Our ‘Deposit acceptance and documentation’ and ‘Concessionary and family purchase’ criteria sections have been updated with the changes.

  • What's new?

    We recently launched our new further advance application process to better enable you to support existing Halifax mortgage customers looking for additional borrowing.

    From Tuesday 28 January we are adding to that process and further advances where a product transfer is also required will now follow the same new and improved process. 

    Key features

    • Apply for additional borrowing, amend the term of the existing sub-accounts if required, and where eligible include a product transfer to select a new product for those sub-accounts
    • Instant decisioning with a Decision in Principle that has a ‘soft footprint’ credit search
    • Create and review illustrations instantly
    • Save and resume keying
    • Ability to amend the loan amount and other details before you submit the application in full 

    How to key?

    In Halifax Intermediaries Online select the new ‘Create Combined PT/FA’ option from the Home page menu.

    The online system fact find questions will automatically determine if an application can follow the new process. A small number of applications will follow the previous process where the application needs to be fully submitted, and you will then receive an email update with a decision and the mortgage illustration. 

    Key information

    Please note that on a combined product transfer and further advance application the product transfer will automatically take effect from the 1st of the month after the further advance funds are released. If the further advance funds are not requested/released by the end of the required month the product transfer will not take effect from the following month as planned.

  • We have updated our Customer Working Age Form (PDF, 507KB).

    This form is required to be completed by all customers on an application when the mortgage term takes one or more customers past their 70th birthday.

    We’ve made it clearer that the date required is the date the customer is signing the form.

    Please ensure the new version of this form is used, and not any saved previous versions, and that this form is completed correctly to avoid delays in the application process.

  • What's new?

    From Tuesday 10 December, we will be using a property’s Energy Performance Certificate (EPC) rating in our affordability calculations.

    We are now able to better reflect the impact of home energy costs, and some of the financial benefits of more energy efficient homes. We continue to support customers looking to improve the energy efficiency of their properties, with our Green Living Reward cashback proposition and our partnerships with heat pump, solar panel & insulation installers.

    Affordability

    Within our affordability model, assumed ‘cost of living’ values are already incorporated, which include energy costs. This adjustment reflects a more tailored view of these costs.

    A customer whose property has a higher EPC rating (e.g. A/B) will generally have lower energy costs than those with a lower EPC rating (F/G) on like-for-like use.

    For properties with an A/B EPC rating (c.15%) you may see a small increase in the maximum loan amount available and for properties with an F/G EPC rating (c.3%), a small decrease. There is no change to the maximum loan available for properties with a C, D or E EPC rating or where the EPC is unknown.

    How to key?

    From Tuesday 10 December, our Mortgage affordability calculator will collect an EPC rating and the maximum loan result displayed will be based on the EPC rating selected.

    You can also select the EPC rating when keying a Decision in Principle (DIP) or leave as ‘Please Select’ if the EPC rating is not known. 

    Key information

    In addition to purchase and remortgage applications, EPC ratings will also be used in affordability for further advance (FA) applications and product transfers (PT), where a full affordability assessment is required.

    The Application Summary document produced upon submission of an application will now include a section recording the EPC details submitted on the application.

    For New Build properties we will accept a ‘predicted’ EPC rating keyed (based on a Predicted Energy Assessment (PEA) or Standard Assessment Procedure (SAP) rating).

    More details

    Following analysis of our customers’ energy costs, we as a responsible lender, have improved our affordability calculations by adjusting the energy cost inputs within our affordability model, based on the energy efficiency of our customers’ properties.

    There are no other changes to policy or our affordability rules and existing loan to income (LTI) caps will still apply.

    There are no changes to when we will request proof of the EPC rating and this is only required when EPC information has manually been keyed and a Green Home product has been selected.

    These changes apply to applications started from Tuesday 10 December and will not apply to any application started before this date. If a Decision in Principle (DIP) was keyed before 10 December and the application is converted to a full application on, or after, this date these changes will not apply.

    Find out more on Green Living with Halifax Intermediaries

  • What's new?

    We’re adding an additional benefit to our Green Living Reward. All customers who successfully claim a cashback reward will qualify for a free Energy Performance Certificate (EPC) assessment.

    The free EPC assessment will help customers understand the impact of the changes they’ve made as well as suggest further ways they can continue to improve their energy-efficiency.

    Our Green Living Reward means customers who are making certain energy-efficiency improvements to their property like insulation, windows, solar panels or a heat pump within 12 months of their completion can claim a cashback amount of up to £2,000, helping to alleviate the high upfront costs of improvements that can reduce household energy bills

    Who qualifies?

    Any customer making a new purchase, remortgage, further advance (FA) or product transfer (PT) application from 31 July 2024 is eligible for the Green Living Reward and all customers successfully making a claim will also be entitled to a free EPC assessment.

    As a reminder there is no minimum EPC rating for the customer’s property for them to be eligible for the Green Living Reward cashback.

    Customers will need to hold a Halifax current account when they make their claim. 

    How does the customer receive the EPC assessment?

    When a customer receives email confirmation of their successful Green Living Reward claim and cashback payment, the email will include details of the free EPC offer. The customer will have 3 months from then to schedule in the EPC assessment. 

    How to claim the cashback?

    All customers will be sent an email when their application is offered advising them of the reward with a link to the Green Living website where they can find out more information and log onto their Green Living journey.

    We encourage customers to log onto their digital Green Living journey straight away and agree to receive reminder emails ahead of their reward’s 12 month expiry date. This will ensure that if they do wish to carry out eligible home improvements, they don’t miss out on the potential cashback available. 

    More details

    Different improvements will have a different cashback value. It is important that customers are aware of the reward and the potential cashbacks available for works they may already be planning to make, or that they may now consider as a result of the cashback available.

    The free EPC assessment will be conducted by e.surv (or by a subcontractor e.surv instructs) and will require an assessor to visit the customer’s property to carry out the assessment. The customer will see a link on their Green Living digital journey which takes them to the e.surv booking page. The customer will receive the EPC document within two weeks of their assessment. Customers who have made a successful Green Living Reward claim recently but are still within the 3 month window after their claim are also eligible for the free EPC assessment.

    To support you we have a Green Living hub with lot of information, including on the Green Living Reward. 

  • What's new?

    We’ve added a Further Advance option to our Mortgage affordability calculator.

    Quickly check the maximum further advance amount that may be available to your customer.

    We recently launched our new and improved further advance application process, and we’re making it even easier for you to support existing Halifax mortgage customers looking for additional borrowing. 

    How to use the calculator

    • Select ‘Further advance’ as the Loan type
    • You just need to key the further advance loan amount, term and the Existing mortgage balance, term and repayment type
    • The existing mortgage information is all available on Mortgage Enquiry
    • The rest of the calculator is completed the same as for a purchase or remortgage
    • The result will show the maximum further advance amount we may be able to lend your customer 

    Other information

    Our new further advance process with instant illustrations, save and resume keying and a Decision in Principle instant decision is available on most further advances that don’t include a product transfer.

  • What’s new?

    Please note that for all applications fully submitted from Sunday 6 October 2024 the latest Tax Calculations and Tax Year Overviews must be for tax year 2023 / 2024.

    Key information

    This is to ensure that the most recent Tax Calculations (SA302s) and corresponding Tax Year Overviews are no more than 18 months old.

    There’s no change to self-employed income verification and you should continue to follow the existing process.

    Please see our website Criteria page for more details on self-employed incomes.

  • For your awareness we regularly review and update the customer product fair value statements on our website. These documents have been updated and the latest versions from the Literature page should be used.

  • What’s new?

    We advised we will now use foster carer income in our affordability calculations to support customers working in this sector with homeownership.

    We’re clarifying what can be accepted for income verification.

    How to key

    This income should be entered as self-employed income with two years figures entered and income will be verified to tax calculations/tax year overviews as standard for self-employed OR we will accept a letter from a foster care agency with two years’ figures as proof of income.

    Foster children should be keyed as dependants.

    Important information

     
    Our website criteria has been updated to reflect these changes.

  • What’s new?

    Following your feedback we’ve improved our further advance application process to better enable you to support existing Halifax mortgage customers looking for additional borrowing.

    The new and improved process is now available via Halifax Intermediaries Online.

    Key features

    • Instant decisioning with a Decision in Principle that has a ‘soft footprint’ credit search.
    • Create and review illustrations instantly.
    • Save and resume keying.
    • Ability to amend the loan amount and other details before you submit the application in full.
       

    How to key

    In Halifax Intermediaries Online Select ‘Create further advance’ as normal.
     
    The online system fact find questions will automatically determine if an application can follow the new or existing process.

     

    Important information

    Most further advances that don’t include a product transfer will follow the new process.

     

    Learn more about 
    further advances

  • What’s new?

    We are reducing our future dating window for product transfers (PTs) from 6 months to 4 months.

    The current market conditions mean it is appropriate to reduce the window while still allowing customers the flexibility to select a new deal well in advance of their current one ending.

    Important Information

    Customers with products ending from 28 February 2025 will now be able to apply for a PT from 1 November 2024, 4 months before the end of their current product.

    Customers with products ending on 31 January 2025, who have been able to apply for a PT from 1 August 2024, are not affected by these changes and can still apply ahead of the 4 months.

    Product transfer options

    Customers choosing to future date are not bound to the new rate and can change their mind right up until their new rate comes into effect.

    As well as future dating, customers within the last 3 months of their product can choose to start their new rate from the start of the following month with no Early Repayment Charges (ERC).

    More details

    To manage the pipeline, this reduction will be staggered – reduce to 5 months for one calendar month from 1 September and then to 4 months from 1 October. Please see the table below for full details of keying dates:
     

    Product expiry 13 January 2024

    Keying from

    Options for date of effect

    Keying from

    1 August 2024

    Options for date of effect

    1 February 2025

    Keying from

    1 September 2024

    Options for date of effect

    1 February 2025

    Keying from

    1 October 2024

    Options for date of effect

    1 February 2025

    Keying from

    1 November 2024

    Options for date of effect

    1 December 2023 or 1 February 2025

    Keying from

    1 December 2024

    Options for date of effect

    1 January 2025 or 1 February 2025

    Keying from

    1 January 2025

    Options for date of effect

    1 February 2025


    Product expiry 28 February

    Keying from

    Options for date of effect

    Keying from

    1 November 2024

    Options for date of effect

    1 March 2025

    Keying from

    1 December 2024

    Options for date of effect

    1 January 2025 or 1 March 2025

    Keying from

    1 January 2025

    Options for date of effect

    1 February 2025 or 1 March 2025

    Keying from

    1 February 2025

    Options for date of effect

    1 March 2025


    Any PT applications already in progress, or offered, would not be affected by these changes.

    Our website has been updated to reflect these changes.

     

  • What’s new?

    We are pleased to announce we have made £2 billion pounds available for  first time buyers (FTBs) who need to borrow at least 4.5x their annual household income through our new proposition First Time Buyer Boost.

    • New loan to income (LTI) limit of 5.5x to boost maximum loan value
    • Up to 22% additional lending.


    Applicable from Thursday 29 August 2024.

    How to key

    There is no scheme to select for First Time Buyer Boost, the increased LTI will automatically be applied in our affordability calculation.

    On a joint application only one applicant needs to be a FTB - please key them as applicant one to ensure they qualify for First Time Buyer Boost LTI.

    More details

    All information relating to the First Time Buyer Boost can be found on our dedicated page.
     
    Our website criteria has also been updated with the new LTI limits.

     
     

  • What’s new?

    As a result of your feedback, from 12 August we’ll be introducing 5 non-sterling Income into acceptable income types:

    • US Dollar
    • Euro
    • Australian Dollar
    • Indian Rupee
    • Swiss Franc.

    Acceptable income types

    For purchase and remortgage applications:

    • basic salary
    • bonus
    • overtime
    • commission.

    We’ll convert the income amount to GBP and apply a haircut of 20% (10% for bonus income) to cover any potential currency fluctuations.

    Important information

    • If payslips show the amount in the originating currency that's sufficient for income verification.
    • If payslips only show the converted GBP figure, then you should upload a compensation letter/remuneration statement with the payslip(s).
    • Our website affordability calculator will not accept non-sterling income at the point of launch*.

     

     

    More details

    *Our website affordability calculator will not accept non-sterling income at the point of launch. As a guide to the GBP equivalent amount, non-sterling currencies should be converted using an appropriate currency conversion tool. Please go straight to Decision in Principle (DIP) for an accurate maximum loan available.

    For more support around this change, including how to key and the required documentation, please read our non-sterling income criteria.

     

    Non-sterling income criteria

  • What’s new?

    From 12 August we are improving our affordability decision at DIP and full application, by using the actual rental payment rather than an assumed value in our affordability calculations for shared ownership.

    Why?

    This change will improve and simplify the processing of shared ownership applications and give you more certainty of the loan amount available at the point of application, enabling us to further support this important sector of the housing market.

    Please note

    A next step message will show on all shared ownership applications requesting ’Proof of the shared ownership rental amount to either a Key Information document or Memorandum of Sale’. 

     

    More details

    Our affordability calculator collects details of any shared ownership scheme including the monthly rental payable to provide a quick check on affordability. 

    The change will apply to all shared ownership applications started from 12 August, and our website criteria has been updated too.
     

    Shared Ownership criteria

  • What’s new?

    Our new Green Living Reward means customers who are making certain energy-efficiency improvements to their property like insulation, windows, solar panels or a heat pump can claim a cashback amount of up to £2,000.

    Terms, conditions and exclusions apply.

    Why?

    The cashback available can help alleviate the high upfront costs of improvements that can reduce household energy bills. The reward supports our mission to reward customers for making certain energy-efficient home improvements.

    More on Green Living Reward

  • What’s new?

    We’ve added a new page with valuable information for all remortgage customers.

    • Conveyancing support
    • Checklist for you
    • Checklist for your customer.

    Why?

    We are always looking at ways to improve the customer experience and early customer contact with the conveyancer and the positioning of requirements can increase the speed to completion of their remortgage.

    Support

    A short video can be shared with your customers to help them understand more about the legal process and the steps they will need to take.

    Share this link: https://www.youtube.com/watch?v=ljaLgLjFWHA

     

    Remortgage and conveyancing guidance

  • From Tuesday 30 April, we've increased the maximum loan to value (LTV) on our part interest-only / part capital repayment mortgages from 75% to 85%.

    This change will enable customers who are taking some of their borrowing on an interest-only basis to borrow at an overall higher LTV.

    The maximum loan amount available on pure interest-only remains as 75%, subject to full criteria. The maximum amounts allowed on interest-only for sale of mortgaged property (SOMP) remain unchanged.

    The change only applies for applications started from Tuesday 30 April. If an application was started before this date, even if just a Decision in Principle or Illustration was keyed, the change will not apply.

    There are no other changes to our interest-only criteria. Our website criteria will be updated shortly.

  • From Monday 18 March, the maximum working age will change on certain applications where specific criteria is met.

    We will continue to support the majority of customers, subject to a successful application, with borrowing up to the age of 75. A maximum working age of 70 will apply to:

    • Remortgage applications with any capital raising / additional borrowing
    • Some purchase and remortgage applications because of the level of credit score achieved and overall credit profile.

    These changes have been made as part of a regular review of our lending criteria and will ensure we can continue to lend responsibly to a broad range of customers. For all other applications we will continue to use a maximum working age of 75.

    If a term past 70 years of age is selected for an application restricted to a maximum working age of 70 a Corrective Action message will show at Decision in Principle (DIP):

    ‘As the maximum working age on this application is 70 the term chosen extends into retirement, anticipated retirement income must be keyed or the term reduced to a maximum of … (years)'

    There are no other changes to our policy and all customers should consider the sustainability of their occupation and the plausibility of working to their anticipated retirement age. Customers should be able to maintain their income position at the point of application to the end of the mortgage term and understand the risks if this proves not possible.

    This change applies to applications started from Monday 18 March. If an application was started before this date, even if just a DIP was keyed, the previous policy will apply. This change does not apply to product transfer or further advance applications.

    Please note on Monday 18 March, the Customer Working Age Form (PDF, 507KB) held on our website Literature page will be updated and the latest version of this form should then be used.

    Our website Criteria Maximum Working Age section will be updated from Monday 18 March.

  • In Wales, for properties in buildings that are five storeys or higher we will no longer require an External Wall System (EWS1) form in order to progress an application.

    Please see our EWS1 and Cladding Criteria section for further details. 

  • From Thursday 15 February, we are expanding our Shared Ownership proposition by reducing the minimum share the customer must be purchasing for New Build properties from 25% to 20%. This will help more customers commence a home ownership journey using a Shared Ownership scheme.

    The minimum customer share for purchase of an existing home (not New Build) through a Shared Ownership resale scheme, or for remortgages remains as 25%.

    Our website Criteria ‘Shared Ownership’ section has been updated.

  • From Wednesday 24 January, we are reducing the minimum income requirement that is applied as part of our non-UK criteria, which means some additional customers can be considered for a mortgage without a requirement for proof of permanent right to reside.

    The minimum income requirement will now be:

    • Sole applicant with an income of £75,000 or more OR 
    • Joint applicants where one applicant has an income of £75,000 or more, or where the combined income of both applicants is £100,000 or more 
    • Additionally, we will now use the total of all earned incomes towards this income requirement. 

    As before proof of permanent right to reside is not required for any non-UK nationals where:

    • The customer (or either customer on a joint application) has lived in the UK for more than 5 years  OR
    • Loan to Value is lower than or equals 75%  OR
    • The customer(s) meet the minimum income requirement.

    Our website Criteria Non UK Nationals section will be updated Wednesday 24 January.

  • We are making it easier for you if you need to cancel a product transfer (PT).

    Until a PT completes (which happens in the month before the new product takes effect) you can click the ‘Cancel’ button within the PT tiles on your My Applications page.

    Once the PT has completed the ‘Cancel’ button no longer shows, you will no longer need to call our support team and will now be able to complete an online form on our website to request the cancellation.

    Please do not call to make a cancellation request, or check this has been actioned, you will receive an update within 24 hours of submitting the request.

    Please see our Product transfer page for further details and the online PT cancellation form.

  • Following your feedback we are improving the process for customers who have two separate products both ending within the six month PT future dating window. 

    The new process being introduced will offer you the option to select the same new product for both PTs i.e. we will honour the product secured on the first PT for the second PT. 

    The first PT application should be keyed online as normal, but you will need to call for us to key the same product for the second PT. 

    Please see our Product transfer page for full details of the process to be followed. 

  • Following your feedback, we are making it easier for you to manage product transfer applications.

    We’re adding ‘save and resume’ functionality, so that you can retrieve an illustration keyed on the same day and proceed without needing to cancel and rekey from the start.

    We’ve simplified and improved the look of the following screens to make the process easier for you:

    • Sub accounts to transfer
    • Product selection
    • Review the quote /customer confirmation
    • Application decision.

    You’ll notice the changes on eligible applications once you pass the Fact Find screen. There are no changes for some PT applications which require budget or full affordability assessment by our support team.

    To use the ‘save and resume’ functionality you must resume the application the same day the illustration is produced, and when exiting the application the following message will indicate if the application can be resumed - ‘If you leave now, you can resume and submit the application later’.

    Also, we recently updated how your PT applications show on your Halifax Intermediaries Online - My Applications page. The individual ‘tiles’ will show a simpler status so it is clear when the PT is due to start. When at ‘Full offer produced’ or ‘Completed’ status, the ‘Effective date of transfer’ will show when the product transfer will automatically take effect.

  • To help ensure Shared Ownership applicants receive the most accurate mortgage offer for their circumstances, we are introducing a route to verify that the rental amount to be paid is lower than that assumed in our affordability calculation. This may enable some applicants to achieve a higher maximum loan amount.

    From Friday 10 November, a new message will show on the Shared Ownership applications where we may be able to review the maximum loan showing as available:

    1. The new message will show at Decision In Principle (DIP) stage:

      The maximum mortgage amount assumes a higher shared ownership rental amount than keyed; a review of the maximum loan available may be considered with proof of the rental amount to a Key Information document or Memorandum of Sale.

    2. Proceed to full application and upload proof of the Shared Ownership rental payment i.e. Key Information document or Memorandum of Sale.

    3. We will review the application and advise if the loan amount requested is available or, if not, what the maximum loan amount would be.

    You can use our affordability calculator to give an indication whether an increased loan amount may be considered. Please continue to key the Shared Ownership rental payment in the ‘Credit commitment monthly payments to remain’ on the calculator.

    We will also now verify the Shared Ownership rental amount for all non-new build properties. For applications accepted at DIP stage, the above message will show at full application stage and the same process including uploading proof of the rental payment should be followed.

    This new process applies to applications started from Friday 10 November, and only when the new message shows. Proof of Shared Ownership rental payments is only required where requested and should not be uploaded for any other applications.

    Please see our Criteria page for more information on Shared Ownership.