For all those homeowners in search of a loan, Halifax has the solution, with an exclusive loan rate for those who have a mortgage with Halifax already.
Some prefer to have their loan separate from their mortgage. For this purpose, Halifax has designed the HomeOwner loan.
Repayments can be distributed between one and 25 years and anything from £3,000 to £25,000 can be borrowed.
For example, a loan of £6,000 can be spread over ten years at repayments of £69.80 a month, or 20 years at £45.53 a month.
The overall rate for comparison to Halifax customers is seven per cent APR. For those who take the initiative to apply online, the administration fee is slashed from £299 to £199.
This fee is added to the loan so there is no need to pay this amount instantly.
For those who do not have a mortgage with Halifax, the typical APR is 7.8 per cent.