Halifax standard variable rate , new homeowner variable rate

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Halifax
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simonneallove39's review of Halifax

“Halifax standard variable rate , new homeowner...”

★☆☆☆☆

written by simonneallove39 on 07/03/2014

At the beginning of the week i was contacted by Halifax regarding my Mortgage At the moment i am on their standard variable rate . I was offered a fixed rate deal over the next two years saving me £67 a month . After two years at the end of the deal i would then be put on to their new homeowners standard variable rate . I asked the question whats the difference between the standard variable and the homeowners variable ?. I was told that there was no difference and at the moment the rates are the same. After three more phone calls i found out what the difference was.
STANDARD VARIABLE = CAPPED 3.9% ABOVE BANK OF ENGLAND RATE .at the Bank Of England's discretion.
HOMEOWNERS VARIABLE RATE = CAN BE INCREASED BY ANY AMOUNT BY THE HALIFAX .
Without the ok from the bank of England.
Thanks but no thanks BEWARE THE HALIFAX ARE STILL AT IT.

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