Halifax slashes fees on direct-only deals
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Halifax has cut some of the fees on its direct deals by up to 50%.
The reduced fees are available in Halifax branches until August 1.
It has halved the fees on a number of its first-time buyer ranges as well as its 75% and 60% LTV deals.
Mortgages with arrangement fees of £995 have now reduced to £497 and those with arrangement fees of £495 now reduced to £247.
£1999 fees have been reduced to £998 and £1499 fees reduced to £749.
On its buy-to-let range it has reduced the fee on its 5.69% two-year fix from 2.5% of the advance plus £245 booking fee to 1.25% of the advance plus £245.
A spokeswoman for the lender says: “From time to time we do have different campaigns across the channels - we have to adapt our wide product to make sure that it’s appropriate for each audience.
“We look at our pricing both on the high street and in the intermediary market to make sure we get it right. As the product ranges are different, we also have different campaigns that are appropriate to each channel too.”
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Readers' comments (18)
Anonymous | 6 Jul 2010 9:52 am
Yet another stab in the back from a major player !!!!
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Anonymous | 6 Jul 2010 9:54 am
So what, their products are not competitive and we have come to appreciate their loyalties over the last 2 years, dual pricing / cross-selling. What I find frustrating is that just today I recieved a magazine from L and G Mortgage Club cconfirming Halifax as 'Best Lender for Intermediaries', 'Best Lender for Mainstream Purchase Products' and 'Best Lender for Existing Customers'.
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Anonymous | 6 Jul 2010 9:56 am
et tu, Brute?
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Tim Robinson | 6 Jul 2010 9:59 am
Unbelievable and they said they were committed to the intermediary market!!!!
We may as well close up for the Summer.
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Unsurprised IFA | 6 Jul 2010 10:01 am
Halifax has always promoted dual oricing on the basis that brokers can fend foer themselves.
Fortunatly, apart form the odd Product Transfer I have not submitted a mortgage to them for nearly 2 years.
I fail to understand why a lender that worked so hard to be intermediary friendly goes out of it's way to make our life more difficult but it is their choice.
My choice is that they are offering such uncompetitive rates to us that I don't have to deal with them.
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Anonymous | 6 Jul 2010 10:02 am
What utter rubbish, I cant remember a campaign accross the intermediary channel. Ohh wait yes I can.... there is the campaign not to answer the phones for 40 minutes. I can see a definite shift towards direct deals from the Halifax.
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Purple serval | 6 Jul 2010 11:23 am
The reduction simply demonstrates the high mark up on such fees. How is this TCF compliant with fair charging?
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Dazed & Confused | 6 Jul 2010 11:29 am
So looking forward to the Halifax BDM coming to see us again...I do so hope that the journey to see us won't be wasted!
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Zebedy | 6 Jul 2010 12:29 pm
Halifax have BDMS?
I just presumed that they got rid of them when they decided to stick the bamboo shoots under the brokers nails
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One of the few still trading | 6 Jul 2010 1:20 pm
Let's be honest folks they are NOT the Halifax any more, they are merely one of the pawns the the Lloyds/TSB armoury. Lloyds has never been intermediary friendly, they have always done their best to try to stuff us and will continue to do so. Just look at C&G offerings over the years.
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