Halifax Equity Release Review
Before You Start Reading…
How Much Can You Release? 👇
Are Halifax equity release plans the best?
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release provider with all the choices available.
Or is it?
The companies we profile, are the best in the business to help you unlock the cash tied into your home.
We’re here to help you:
- Understand the services that Halifax offers.
- Determine if they might be able to assist you and your family on your equity release journey.
As experts in the equity release field (we’ve reviewed more than 250 schemes!), we’ve combed the market, researched all equity release service providers and narrowed it down to who’s on top.
Is Halifax the ideal equity release loan company to assist you and your family?
Let’s find out NOW!
What’s Equity Release?
An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care.
Who Are Halifax?
Halifax, previously Halifax Building Society, is a British banking brand and a trading division of Bank of Scotland,
Itself a wholly-owned subsidiary of Lloyds Banking Group1.
It was founded as a building society in 1853 but demutualized in 1997.
What About the Halifax Equity Release Calculator?
Before you consider using the Halifax calculator, please take note.
Our providers can almost always match & BEAT any existing equity release quote that you find through Halifax.
So first use this calculator below & see how much you can release.
How Much Can You Release?
Use the Calculator Below 👇
Why Consider Halifax?
Halifax is a leading financial services provider based all around the UK.
While they don’t offer equity release themselves, they’ve partnered with Scottish Widows Bank and offers Lifetime Mortgages.
Should you wish to get in touch with Halifax, they’ll link you to Scottish Widows so that you can unlock equity.
A Scottish Widows Later-Life Lending Adviser2 will guide you through all your options.
Halifax Reviews & Ratings
- Halifax Reviews on ReviewCentre.com
- Reviews of Halifax on UK.TrustPilot.com
- Halifax Reviewed on SmartMoneyPeople.com
Halifax’s Equity Release Scheme Reviews
Halifax has a range of mortgages for all ages, and will transfer you to Scottish Widows for equity release.
Who has a large range of amazing plans.
How Did We Review Halifax?
We reviewed Halifax by gathering all the latest information available about it.
This information was then thoroughly researched, vetted and then added to this review for your ease of reference.
Our review of Halifax is independent, and we are not affiliated with it.
If you’re unhappy with Halifax and would like to make a complaint then the best way to do this is to reach out directly on their website.
They care about their customers and will forward you to the relevant department.
The alternative is to use a review site such as Trustpilot or Feefo and leave a review and they’ll quickly reach out to you to assist.
Pros & Cons
- With rates around 2.89% that are fixed3, get the money you need with no hidden fees or charges.
- Low non-trading fees.
- Good options for deposits and withdrawals.
- Quick and easy account opening.
- No withdrawal fee.
- No inactivity fee.
- High Stock Trading Fees.
- Very Poor Customer Service.
- No Mobile or Desktop Platforms.
- Yearly Account Fee.
Editor’s Rating: 4.94
Halifax’s Qualification Criteria
- Minimum Age Limit: 55
- Maximum Age Limit: 85
Lifetime Mortgage Equity Release Schemes
Lifetime Mortgage FR1
The Lifetime Mortgage FR1 drawdown plan comes with a free valuation,
No application fees, a cashback option, and fixed interest rates from 3.04%.
Lifetime Mortgage LS3
With the Lifetime Mortgage LS3 lump sum plan, interest rates are fixed from 3.15%.
Once again, there’s a free valuation, cashback options, and no application fees.
Furthermore, you can pay back up to 10% of your loan annually.
Halifax’s Scheme Equity Release Interest Rates & Schemes Compared
Are you looking for a specific equity release scheme?
These are some of the schemes offered or covered by Halifax.
Not what you’re looking for?
Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare the equity release rates!
What Are Halifax’s Fees?
Halifax fees may include an application fee.
It may also offer you a free valuation; however, sometimes providers charge for this depending on your plan.
Learn More About Halifax
Halifax was founded in 1853 and became a public limited company4 in 1997.
In 2001 Halifax plc merged5 with The Governor and Company of the Bank of Scotland, forming HBOS.
In 2006, the assets and liabilities of the Halifax chain were transferred to Bank of Scotland, and in 2009, HBOS was taken over by Lloyds TSB.
Halifax aims to provide outstanding service to all of its customers.
As a result, you can expect equal access, facilities, and treatment regardless of your requirements or ability.
The majority of its 800 locations are open concept, making it simple to get in and out as well as move about within.
The majority of them also features a front desk, where you can discuss your requirements with a member of staff.
Halifax employees will also be able to answer your inquiries and assist you to the best of their abilities.
- Financial Conduct Authority (FCA)6
- Financial Services Authority Now the Prudential Regulation Authority (PRA)7
Halifax Contact Number & Address
- 0345 720 3040
- Trinity Road, Halifax, West Yorkshire HX1 2RG
Is Halifax a Member of the Equity Release Council?
No, Halifax is not a member of the Equity Release Council.
What Are Halifax's Interest Rates?
With rates around 2.89% that are fixed, get the money you need with no hidden fees or charges. Equity release loan to value? You can get 65% of your property’s valuation.
In April 2016, Halifax raised its interest rates for equity release products. New customers will have access to a range of fixed and lifetime mortgages with competitive rates, starting from 2.99% APR variable.
Who Owns Halifax?
Halifax is one of the biggest lenders in the UK, operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. The bank traces its roots back to 1853 when a group of Halifax shopkeepers got together to save for funerals.
Halifax advertise its available jobs on its website, which you can find in its dedicated careers area.
Where is Halifax Located?
Today, Halifax is headquartered in Huddersfield and has over 90 branches across the UK.
Does Halifax Do Equity Release?
Yes, Halifax does equity release.
Is Halifax Equity Release Safe?
Yes, they’re a member of the equity release council and follow their guidelines. They’re also FCA regulated.
So here’s the scoop – our intention is to help you by find the best lifetime mortgage so that you can spend the money on something that you really want, rather than on a high tax bill.
We recommend that you chat with your financial adviser before deciding if a Halifax equity release plan is for you.
Before You Go…
Use the FREE Calculator Below 👇
Editorial Note: This content has been independently collected by the SovereignBoss team and is offered on a non-advised basis. SovereignBoss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.