From This is Money:
Two years ago Halifax was selling a two-year tracker at base rate minus 0.51%. Since April the estimated 7,500 borrowers who took it have been paying no interest.
But that deal comes to an end on September 30 – closely followed by an identical version ending on November 30.
Borrowers coming off these deals will suddenly find themselves paying the Halifax’s standard variable rate of 3.5%.
This will push monthly repayments up from £544 to £792 for a borrower with a £150,000 home loan.
Halifax is offering these customers a two-year 0.51 point discount off its standard variable rate. This would leave them paying 2.99%, with repayments of £752. But there’s a £599 fee and early redemption penalties.
There are three remaining 0% tracker mortgage deals. Two come to an end in December. One was offered by C&G and the other to buy-to-let purchasers by BM Solutions.
C&G borrowers will go on to a 2.5% rate and BM 2.54%. The third, also from C&am…