{"id":14721,"date":"2025-07-07T02:43:31","date_gmt":"2025-07-07T02:43:31","guid":{"rendered":"https:\/\/lotayamedia.xyz\/?p=14721"},"modified":"2025-07-07T02:43:31","modified_gmt":"2025-07-07T02:43:31","slug":"halifax-ends-300k-mortgage-prize-draw-what-are-your-alternatives","status":"publish","type":"post","link":"https:\/\/lotayamedia.xyz\/?p=14721","title":{"rendered":"Halifax Ends \u00a3300k Mortgage Prize Draw: What Are Your Alternatives?"},"content":{"rendered":"<p class=\"ds-markdown-paragraph\">Halifax is shutting down its\u00a0<strong>monthly mortgage prize draw<\/strong>\u00a0this September, leaving thousands of customers wondering:\u00a0<strong>Are there still ways to win big with banks and lenders?<\/strong><\/p>\n<p class=\"ds-markdown-paragraph\">The draw, running since\u00a0<strong>2011<\/strong>, gave mortgage holders the chance to have their home loan\u00a0<strong>fully paid off (up to \u00a3300,000)<\/strong>\u00a0and awarded\u00a0<strong>100 runner-up prizes of \u00a31,000<\/strong>\u00a0each month. A separate\u00a0<strong>savings prize draw<\/strong>\u00a0also offered top payouts of\u00a0<strong>\u00a3100,000<\/strong>.<\/p>\n<p class=\"ds-markdown-paragraph\">Despite its popularity, Halifax has\u00a0<strong>quietly confirmed<\/strong>\u00a0the scheme will end on\u00a0<strong>30 September 2025<\/strong>, with no public explanation. Industry experts suggest\u00a0<strong>declining value for both the bank and customers<\/strong>\u00a0may be behind the decision.<\/p>\n<h2><strong>What Prize Draw Alternatives Are Left?<\/strong><\/h2>\n<p class=\"ds-markdown-paragraph\">With Halifax bowing out, are there still\u00a0<strong>lucrative prize-linked banking options<\/strong>? Here\u2019s what\u2019s still available:<\/p>\n<h3><strong>1. Premium Bonds (NS&amp;I)<\/strong><\/h3>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>\u00a31m monthly jackpot<\/strong>\u00a0(tax-free)<\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Odds:<\/strong>\u00a01 in 22,000 per \u00a31 bond<\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Minimum deposit:<\/strong>\u00a0\u00a325<\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>No interest earned<\/strong>, but safe &amp; government-backed<\/p>\n<\/li>\n<\/ul>\n<h3><strong>2. Kent Reliance (OneSavings Bank) Prize Draw<\/strong><\/h3>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Monthly prizes (\u00a3100\u2013\u00a31,000)<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Automatic entry<\/strong>\u00a0for savers (\u00a3100+) &amp; mortgage holders (\u00a31,000+ balance)<\/p>\n<\/li>\n<\/ul>\n<h3><strong>3. Credit Union PrizeSaver<\/strong><\/h3>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Top prize: \u00a35,000\/month<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Entry cost:<\/strong>\u00a0\u00a31 per ticket (max 200)<\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Limited to certain credit unions<\/strong>\u00a0(check\u00a0<a href=\"https:\/\/www.prizesaver.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">prizesaver.co.uk<\/a>)<\/p>\n<\/li>\n<\/ul>\n<h3><strong>4. Family Building Society\u2019s \u00a350k Draw<\/strong><\/h3>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>\u00a350,000 top prize<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Minimum deposit:<\/strong>\u00a0\u00a310,000<\/p>\n<\/li>\n<\/ul>\n<h3><strong>5. Chip\u2019s Savings Prize Draw<\/strong><\/h3>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Up to \u00a310,000 in prizes<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Only \u00a310 needed to enter<\/strong><\/p>\n<\/li>\n<\/ul>\n<h2><strong>Are Banking Prize Draws Worth It?<\/strong><\/h2>\n<p class=\"ds-markdown-paragraph\">Financial experts\u00a0<strong>caution against chasing prizes<\/strong>\u00a0over better rates:<\/p>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>David Hollingworth (L&amp;C Mortgages):<\/strong><br \/>\n<em>&#8220;The odds of winning are slim. Focus on low mortgage rates first.&#8221;<\/em><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Jonathan Rolande (Property Expert):<\/strong><br \/>\n<em>&#8220;These are gimmicks\u2014never pick a financial product just for a prize draw.&#8221;<\/em><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong>Rachel Springall (Moneyfacts):<\/strong><br \/>\n<em>&#8220;Premium Bonds are a solid alternative, but remember they pay no interest.&#8221;<\/em><\/p>\n<\/li>\n<\/ul>\n<h2><strong>Final Chance to Win with Halifax<\/strong><\/h2>\n<p class=\"ds-markdown-paragraph\">Halifax\u2019s prize draw runs until\u00a0<strong>September 2025<\/strong>, so there\u2019s still time to\u00a0<strong>enter<\/strong>. A bank spokesperson said:<\/p>\n<blockquote>\n<p class=\"ds-markdown-paragraph\"><em>&#8220;We\u2019ve awarded over \u00a314m since 2020 but are now exploring new ways to reward customers.&#8221;<\/em><\/p>\n<\/blockquote>\n<h3><strong>Key Takeaways:<\/strong><\/h3>\n<p class=\"ds-markdown-paragraph\">\u2714\u00a0<strong>Halifax\u2019s mortgage &amp; savings prize draws end in September<\/strong><br \/>\n\u2714\u00a0<strong>Premium Bonds, Kent Reliance, &amp; credit unions offer alternatives<\/strong><br \/>\n\u2714\u00a0<strong>Experts advise prioritizing rates over prize-linked deals<\/strong><\/p>\n<p class=\"ds-markdown-paragraph\">For more on savings and prize-linked accounts, check:<\/p>\n<ul>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong><a href=\"https:\/\/www.moneysavingexpert.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">MoneySavingExpert: Best Savings Accounts<\/a><\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong><a href=\"https:\/\/www.which.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Which? Premium Bonds Guide<\/a><\/strong><\/p>\n<\/li>\n<li>\n<p class=\"ds-markdown-paragraph\"><strong><a href=\"https:\/\/www.nsandi.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">NS&amp;I Official Site<\/a><\/strong><\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Halifax is shutting down its\u00a0monthly mortgage prize draw\u00a0this September, leaving thousands of customers wondering:\u00a0Are there still ways to win big &#8230;<\/p>\n","protected":false},"author":1,"featured_media":14722,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"","rank_math_description":"","rank_math_focus_keyword":"","rank_math_keywords":"","footnotes":""},"categories":[17,2],"tags":[],"class_list":["post-14721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-marketing"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/14721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14721"}],"version-history":[{"count":1,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/14721\/revisions"}],"predecessor-version":[{"id":14723,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/14721\/revisions\/14723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/media\/14722"}],"wp:attachment":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}