Registered Office: The Mound, Edinburgh EH1 1YZ. Halifax is a division of Bank of Scotland plc. This site is intended for UK residents unless otherwise stated. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise retail clients, you must ensure it conforms to the Financial Conduct Authority's advising and selling rules. If you do not have professional experience, you should not rely on the information contained in this communication. You can adjust the loan amount, interest rate, interest only period and even repayment frequency in order to compare and contrast. So, whats equity release Well, its a method for homeowners over 55 years old to borrow against the value of their home, which they must already own outright. For mortgages applied for before this date the Halifax Standard Variable Rate (SVR) will be the rate that applies.įor independent information on mortgages, visit the website 'MoneyHelper'. The interest only calculator will work out how much more in interest you’ll pay over a 30-year home loan term. Generally speaking interest rates are higher on interest-only loans than for standard home loans, and to cover the first 5 years of not paying off the. Halifax Homeowner Variable Rate will apply to all mortgages applied for after 4th January 2011. ![]() ![]() Details of this rate can be found on the Bank of England website at * Halifax Homeowner Variable Rate (HHVR) is the rate that will apply to the mortgage after the initial product period ends. Our tracker rate mortgages are linked to Bank of England bank rate (also known as Bank of England repo rate).
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