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 Intermediaries – Premier Large Loan Entry Threshold
What’s new?
To ensure our Premier proposition continues to meet the needs of the evolving large loan market, we’re increasing our large loan threshold from £500,000 to £650,000.
As a result, the Halifax Premier Large Loan team will support mortgage applications of £650,000 and above, replacing the current £500,000 threshold. The team provides dedicated specialist support and can offer greater flexibility when considering policy edge cases, helping us deliver the right outcomes for larger borrowing requirements.
Why we’re making this change:
House prices across the UK have increased significantly over the past nine years, with many markets seeing growth of around 25–30%. As a result, the current £500,000 threshold no longer reflects where the higher-value lending market begins and now sits within mainstream lending ranges across many parts of the country.
We believe customers borrowing between £500,000 and £649,999 can be effectively supported through our standard residential proposition, without the need for the additional specialist support provided by our Large Loan Service. Increasing the threshold to £650,000 reflects changes in the market and allows us to focus our specialist expertise on the cases where it can deliver the greatest value for customers and brokers.
What this means for you and your customers
The impact of this change will depend on the size of the mortgage applications you place with us:
- Applications between £500,000 and £649,999 submitted from Monday 27 July will be managed by our standard residential processing teams rather than the Halifax Premier Large Loan team. Our residential proposition and underwriting approach have evolved over time and now support the vast majority of cases within this lending range without the need for specialist intervention.
- Applications of £650,000 and above will continue to be supported by the Halifax Premier Large Loan team, with no change to the dedicated specialist service and expertise that brokers and customers value today.
We recognise that this will be a change for some brokers.
If you regularly place cases in the £500,000–£649,999 range and would like to discuss how this may affect future applications, please speak to your Business Development Manager in the first instance. We’re committed to making the transition as smooth as possible and our teams are ready to provide support and guidance where needed.
The new threshold will take effect from Monday 27 July, with systems updated automatically to support the change.
Any applications already submitted and being managed through the Halifax Premier Large Loan Team will continue to be processed as normal. There will be no impact to pipeline cases currently progressing through the large loan service.