Halifax Mortgages

Halifax was established as a building society in 1852 in the West Yorkshire town from which it takes its name. Halifax is now a bank that operates as a trading division of Bank of Scotland, which is owned by Lloyds Banking Group.

Halifax provides a wide range of financial products and services covering all aspects of the banking market.

If you’re thinking about applying for a Halifax mortgage, you will want to know more about its lending criteria.

It is important to remember that the eligibility criteria will vary between products. For example, common criteria for a residential mortgage include:

• You must be aged 18 or over and no older than age 75 when you take out the mortgage.
• You must provide proof of residency in the UK.
• You will need proof of income, including at least three months’ payslips and a P60 to show the tax you pay. This will include your employment history and current job contract.
• You will need to show proof of outgoings – bank statements, for instance – to show that you can afford the mortgage after debts, such as credit card payments or car finance, are paid.

Halifax has a duty to make sure you can comfortably meet your monthly mortgage payments. A simple way to do this is to make sure your monthly income will exceed your outgoings, including payments toward the mortgage product of your choice. To find out more about a specific mortgage product’s criteria, please visit the Halifax website.

NerdWallet can help you to compare mortgages from a range of providers, including Halifax. To find out more and compare deals, use our mortgage comparison tool.

Yes, there is a Halifax mortgage calculator. So if you’re thinking about a Halifax mortgage, the calculator can show you how much you might be able to borrow and also how much your monthly mortgage repayments might be. All you’ll need to do is answer a few quick questions to get started.

» MORE: Try NerdWallet’s mortgage calculator

Yes, you can take a mortgage payment holiday with a Halifax mortgage if you meet its conditions.

For example, you must have taken your mortgage out more than 12 months ago, and if you have a joint mortgage, both borrowers must agree to the holiday. You can find a full list of conditions on the Halifax website.

A mortgage payment holiday is when you take a temporary, pre-arranged break from paying your monthly mortgage bill. There are many reasons why you might want to do this, from having an unexpected big expense to being made redundant.

If you’re looking into this option because your income has been affected by coronavirus, Halifax has special support available to you.

Keep in mind that if you decide to arrange a mortgage payment holiday, your monthly mortgage payments will go up when you start paying them again. This is because Halifax will still be adding interest, despite the payment holiday.

Mortgage payment holidays offer short-term relief, and could be the right thing for your situation, but make sure you take into account the long-term effects of hitting pause on your repayments.

Whether you can port your mortgage will depend on the terms of the mortgage you initially took out and a few other factors – such as whether you’ll need to borrow more money for the new property, and whether you’ll still qualify for the deal, as your circumstances or your mortgage provider’s criteria may have changed since your initial application. To find out, check your Mortgage Offer letter for the specific terms of your Halifax mortgage.

Keep in mind that if you do need to borrow more money to move to the new property, and assuming you meet the requirements to port your original product, you will also need to take out another mortgage product to repay the difference. You’ll effectively have two mortgage products on the new property, though you’ll still make just one monthly payment.

For more information or advice, it’s a good idea to speak to an independent financial adviser.

There is not a dedicated Halifax mortgage app, but you can access your mortgage account using the Halifax app.

With the app, you will be able to see your balance and statements, make payments, and request documents (such as your mortgage statement or a certificate of interest). The app is available on both the App Store and Google Play.

Yes. In many situations, Halifax offers customers with mortgages the ability to overpay on their mortgage to reduce the amount owed in total.

Overpayment can reduce the interest you will need to pay, as it is calculated based on a reduced balance, from the moment overpayments are received. Please note overpayments can’t reduce the term itself, and an early repayment charge (ERC) might apply if you pay above a specific limit.

Be sure to check your mortgage offer to be aware of any repayment limit to avoid being charged.