Your Halifax mortgage

About Us

Support for our mortgage customers

We’ve signed up to the government’s Mortgage Charter. This means we’ve agreed to work closely with the government to give mortgage customers the right support.

If you’re worried about making future payments, or you’ve already missed one, find out what we can offer you.

Switch to a new mortgage deal

Current Halifax deal coming to an end? Already on one of our Lender Variable Rates? Then you could switch to a new mortgage deal.

Switch your deal and borrow more

Looking to switch and borrow more? If your current Halifax deal is coming to end, or you’re on one of our Lender Variable Rates you could do this at the same time.

Introducing Hello Home

HelloHome is a simple way to keep track of your mortgage details. It’s easy to access through Online Banking and Mobile Banking.

Make changes to your mortgage

Make a lump sum overpayment

Make a regular overpayment

Make your monthly payment

Change your direct debit details

Take a payment holiday

Get our agreement to rent your home

Repay your mortgage in full

Early repayment charges

How is my mortgage interest calculated?

The interest on your mortgage is calculated either on a daily or an annual basis. Check your annual statement to find out which method applies to your mortgage. All product rates listed on our website today are on daily interest. If you’re currently on annual interest and wish to change to daily interest please call us.

Daily interest

Daily interest is calculated by charging interest on the amount of your outstanding mortgage, until you’ve paid it off, on a daily basis. We start charging interest:

  • on any money we lend you from the day we lend it to you.
  • on interest from the day after we add it to your mortgage.
  • on any charge and cost we add to your mortgage loan from the day we do so.

Any payment that you make will reduce the balance and therefore the amount of interest you are charged from the day that we receive it. We’ll add the interest for each month to what you owe at the end of the last day of that month. We start charging interest on that interest from the first day of the next month.

How does my mortgage account work?

Your mortgage may be a combination of different repayment methods with different interest rates over different mortgage terms. If so, your mortgage will be split into multiple parts called sub-accounts. The majority of our customers will have a sub-account 01 which is their main mortgage and a sub-account 99 which holds fees. Some customers may also have a sub-account 98 if they have a mortgage account fee.

Each sub-account has a separate monthly payment that we total before collecting the full amount from you each month. When we receive your total monthly payment, we split it and give each sub-account the amount it needs to ensure you repay your interest charges for that month.

For repayment sub-accounts, each month, your payments go towards reducing the amount you owe as well as paying off the interest. Remember, for interest only sub-accounts the balance doesn’t reduce as you’re only paying back the interest and it’s a requirement that you have a repayment plan in place. Find out more about the different ways of repaying your mortgage.

If you pay more than your monthly payment, we’ll put what you pay towards each sub-account in the same proportions that we apply your full monthly payments to those sub-accounts, unless you tell us otherwise.

Annual interest

Annual interest is calculated and added to your account once a year, on the same date, and is based on the amount of your outstanding mortgage at the start of the mortgage year. Although your mortgage balance may reduce throughout the year as you make your monthly payments, the balance on which interest is charged doesn’t change until your mortgage account year starts again.

Can I rent out my home?

If you don’t have a Buy- to-let mortgage, you’ll need to ask for our agreement to rent out your home.

Find out how to rent out your home, the conditions that apply and how to cancel an existing consent to lease agreement. 

Have I been charged a mortgage account fee?

The mortgage account fee is an interest-free fee which is charged on new mortgage completions. It doesn’t apply if you’re switching to a new deal or borrowing more against your existing Halifax mortgage. It covers the setting up, routine maintenance and closing down of the mortgage account.

If we charged you a mortgage account fee when your mortgage completed, it’ll be debited to sub-account 98. You’ll be able to see this if you sign in to Online Banking to view your mortgage details or it’ll be on your annual statement with the description “Mortgage account fee”.

If you’re not registered for Online Banking yet, it’s easy and only takes about 5 minutes. Find out how to register.

Learn about your mortgage

Check your balance, interest rate and more with HelloHome

View your monthly payment

Get your redemption figure

Request a statement

Your deeds

Moving home and keeping your current mortgage

Bank of England and your mortgage

Looking for something else?

We’ve got lots more information about managing your mortgage.

Worked example

If your mortgage consists of two sub-accounts and your total monthly payment is £400, of which

  • £100 is the monthly payment on sub-account 01
  • £300 is the monthly payment on sub-account 02

We calculate what percentage of your total monthly payment is made to each sub-account, as follows

Payment on sub-account 01 £100 / Total monthly payment £400 x 100 = 25%

Payment on sub-account 02 £300 / Total monthly payment £400 x 100 = 75%

If you overpay £100 on top of your regular monthly payment, we’ll apply £25 of the overpayment to sub-account 01 (overpayment of £100 x 25%) and £75 to sub-account 02 (overpayment of £100 x 75%).

Will I have to pay any early repayment charges?

We offer different types of mortgage products with different interest rates. With some of these there might be a charge if you repay all or part of your mortgage within a certain period of time. We refer to these as early repayment charges. Details of any early repayment charges that apply to you, and when they may be charged, are set out in your mortgage offer document or you can call us.

If early repayment charges apply, the charge will be based on the amount you owe when you make the overpayment to your mortgage. If you only repay part of your mortgage we’ll charge you a proportion of the early repayment charge due.

If your current Halifax mortgage deal is ending and you’re looking to switch to a new deal, early repayment charges are waived if there is 3 months or less to run on your existing deal. Also, if you’re moving home and you take your existing Halifax mortgage deal with you, you won’t have to pay any early repayment charges.

As a concession, in each calendar year you can make regular or lump-sum overpayments of up to 10% of the amount owed on each sub-account at 1st January without having to pay an early repayment charge. If the total amount you overpay during the year exceeds 10%, we’ll only charge you an early repayment charge on the proportion you overpay above 10%. However, if you repay your mortgage in full within six months of making a regular or lump-sum overpayment, we’ll require you to pay the full early repayment charge, including any portion which we previously didn’t charge you.

Remember, as this is a concession, we can change or withdraw our 10% early repayment charge concession without notice. So, if you decide to make any regular or lump-sum overpayments, it’s always best to call us and check if the policy has changed.

Can I move home and keep my current mortgage?

When moving home, you’ll need to apply for a new mortgage. However, you may be able to keep your existing Halifax mortgage deal. To find out if you can transfer your existing mortgage deal to your new mortgage, you’ll need to contact us.

We may also be able to arrange increased borrowing to cover any extra costs for the new property. We’ve a range of moving home deals available to our existing customers.

How we calculate daily interest

For each month, we look at what you owe at the very start of the month. Then we look at anything we need to add to what you owe, such as a charge, or anything you pay off, say through a monthly payment, during that month. We’ll calculate your interest for the month as follows:

  • (what you owe at start of month) x (yearly interest rate) x (days in the month)
  • (any added amount) x (yearly interest rate) x (remaining days in month, including the day of addition)
  • (any payment) x (yearly interest rate) x (remaining days in month, including the day of your payment)

We divide the total figure by 365 (366 in a leap year). We do our calculation to four decimal places at each step. We round up the result to the nearest penny to give you your interest charge for the month.

For example:

Someone owes £100,000 on 1st June, and on 16th June they make a payment of £20,000. Their yearly interest rate is 6%. On that basis, we work out their interest for June as follows.
£100,000 x 6% x 30 (being the number of days in June) = £180,000.0000
£20,000 x 6% x 15 (being the number of days from 16th to 30th June) = £18,000.0000
£180,000.0000 – £18,000.0000 = £162,000.0000
£162,000.0000 / 365 = £443.8356

Total interest charge for June = £443.84

Homes for Ukraine

If you’re planning to support the government scheme to house Ukrainian refugees, we’re supporting you by making the process as simple as possible.

You won’t need to notify us if you’re providing:

a room(s) in your own home (current limit of 2 lodgers will not apply)
a residential property you own (there’s no need to request consent to lease but you’ll need to obtain a tenancy agreement)
your Buy To Let property (normal mortgage and letting conditions apply, and you need to obtain a tenancy agreement).
It’s important you consider whether by providing this support you are still able to afford your household bills, pay your mortgage and it doesn’t put you in financial difficulty. You may wish to look at any government guidance issued.

You should also check with your building/contents insurer to see if you need their consent. If your home insurance is with us, no further action is required and your cover will not be changed.

You could lose your home if you don’t keep up your mortgage repayments

Halifax: Creating a bank that is open to all

At Halifax, we want to make sure we do all we can to champion every type of person. We work hard to provide a fully inclusive environment for our customers and colleagues, and we will act if we feel something is wrong.

We have and will take action against discrimination and violent or offensive behaviour, whether racist, sexist, homophobic, transphobic, ageist or ableist, regardless of whether this happens in our branches, offices, over the phone or online on our social media channels. Such action may include referral to the police, being removed from premises, having calls terminated or in closure of an account. 

We are committed to creating a safe environment for colleagues and customers and will strive to do the right thing for the communities we serve.

Supporting customers and colleagues

Accessibility and disability

  • If you need additional support we have adapted our services to provide support and guidance for your needs, whether visible or non-visible.
  • We launched the Hidden Disabilities Sunflower Lanyard scheme UK wide across all our branches.
  • We work with Digital Accessibility Centre (DAC), a non profit organisation, to check that our websites and Mobile Banking app are accessible for all.
  • We offer a Sign Video Interpreting service, enabling our deaf customers to communicate with us via sign language.
  • We provide internal training, to increase colleague awareness of long term health conditions, visible and non-visible disabilities. 

Mental health

  • Together with Mental Health UK, we tackle stigma, raise awareness and equip customers and colleagues with tools to look after their mental health and live their best possible lives.
  • Our independent charitable Foundations provide funding and support to small and local charities that are supporting people with mental health conditions, helping thousands of people to change their lives for the better.
  • We have Mental Health Advocates across our branch network, who are trained to give wellbeing support to other colleagues.
  • Working with the Money and Mental Health Policy Institute, we have achieved the Essentials level in their Mental Health Accessible Programmed. As a result, our colleagues are able to better understand and support customers with mental health conditions.
  • Colleagues receive internal training to increase awareness and understanding of mental health conditions, and signpost specialist support.

Race and ethnicity

  • Our independent charitable Foundations provide funding and support to many small and local charities who are led by and for Black, Asian, and Minority Ethnic communities, helping people to break or prevent the cycle of disadvantage.
  • We strive to create a fully inclusive culture for all colleagues, customers, and communities.
  • We developed a Race Education Programme to help all colleagues hold brave conversations about race, promoting awareness, allyship and action, with customers and colleagues.
  • Our race and ethnicity colleague network REACH, creates a truly inclusive environment by giving professional development and support for colleagues from different racial, ethnic and cultural backgrounds.

Sexual orientation and gender identity

  • We actively support and celebrate Pride season and decorate our branches to celebrate and support greater LGBT+ inclusion.
  • We actively raise awareness and encourage support for other key LGBT+ awareness days during the year, to create a welcoming environment for all our LGBT+ colleagues and ensure our allies are educated and visible in their support.
  • We are committed to providing a safe and supportive environment for customers and colleagues, and the way in which they wish to express their gender identity.
  • We give our branch colleagues the option to add their preferred pronoun to their name badge, as another way of helping everyone feel welcomed and valued for how they identify.
  • We have trained LGBT+ Mental Health Advocates across our branch network offering wellbeing support to LGBT+ colleagues.
  • Our LGBT+ colleague network Rainbow, creates a truly inclusive environment by giving professional development and support for LGBT+ colleagues.

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