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Halifax says SVR not available for new customers

Halifax has said it will no longer be offering SVR mortgages to new customers.

In an email to brokers, Halifax says that its SVR is a generic facility largely intended for existing customers.

It says: “Unlike a number of other lenders we continue to be active, as always, in the mortgage market. As a result, we are now seeing a significant increase in the number of new customers opting to take an SVR mortgage with us. As a result, we have no option, but to end our practice of offering SVR to new customers.”

Halifax says it has a large product range available for new mortgage applications covering all key segments in the mainstream market and remain committed to providing this to the broker channel.

It says that its SVR remains available for customers to revert to at the end of their existing product term and for existing customers seeking additional lending.

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