Brilliant Solutions

Halifax Update

Here is the latest update from Halifax.  Their latest products are viewable here and all accessible via the Brilliant Solutions mortgage club. Contact us for more information. 

Halifax product changes

Changes to our product range

On Tuesday 8 December, we’re making the following introductions to our product range:

First time buyer

  • 2 and 5 year fixed rate products with a £999 fee at 85-90% loan to value

Further information

  • Please click Find out more to access the Product Rate Guide which has been updated with the changes
  • The product search tool, Halifax Intermediaries Online and sourcing systems will be updated by Tuesday 8 December
  • Please visit from Tuesday 8 December or contact your local Business Development Manager


New 90% loan to value first time buyer products

On Tuesday 8 December we are reintroducing first time buyer (FTB) purchase products at 85-90% loan to value (LTV). The products will initially only be available where the following criteria is met so that we can manage our service proposition whilst supporting FTB’s and continue to lend responsibly.

  • FTB only (at least one applicant on a joint application must be a FTB)
  • New build properties are not included
  • No other ‘schemes’ can be selected
  • An enhanced credit score requirement will be applied to any applications on these products
  • A maximum 4.49x loan to income (LTI) cap will be applied as part of our affordability assessment
  • Maximum loan amount of £500,000
  • Commitments stated as to be repaid upon completion – any current credit commitments will be deducted as ongoing in our affordability calculation even where declared as ‘to be repaid’. The loan amount must be affordable with these commitments deducted as remaining

At Decision in Principle (DIP) stage if the above criteria is not met you will receive a Corrective Action message that will advise you that based on the customer’s circumstances the LTV would need to be reduced to proceed.

If the loan amount is increased above 85% LTV on any existing pipeline applications, to switch to these new products, the application will be subject to the above criteria.

The Mortgage Product Guide PDF on our website which will be updated by 8 December, will include details of the criteria applicable to these products.

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