Halifax annoyed many of you with their series of irritating adverts featuring Howard Brown that offered you "extra".

Now, it seems they are not giving you any extra help when it comes to getting a mortgage!.

That is because the UK's biggest mortgage lender has stopped offering mortgages on its standard variable interest rate (SVR) if you are a new customer.

• What does this mean?

It means that you will have take out either a fixed rate mortgage or a tracker rate mortgage, both of which come with set-up charges, and early redemption penalties.

Halifax's reasons for limiting your options is them thinking that too many of you were applying for its SVR mortgage, but had no intention of staying with the bank.

The Halifax's SVR mortgage, which currently has a rate of 7% on mortgages of up to 95% of a property's value, has no early redemption fees or set up charges.

When questioned about their decision, a Halifax spokesman said that it had been left no alternative and that it faced losing money due to the administrative costs involved in SVR mortgages.

Ray Boulger of the mortgage brokers John Charcol said:

"I think for the largest lender in the country to say they will not allow applications for their SVR is a very major move."

• Reduced funding for new borrowers

The ongoing credit crunch has seen a big reduction in the funds that can be lent to you if you are a new borrower. Because of this, mortgage lenders have been restricting the availability of mortgage funds by demanding larger deposits and raising interest rates charged to new customers who take fixed rate and tracker rate mortgages.

This has led to many of you moving your mortgage to the simplest and cheapest SVR mortgage deal you can find. This then leads to you switching your mortgage as soon as possible once you find a more attractive deal somewhere else.

In contrast to its SVR mortgage, many of Halifax's fixed rate or tracker rate mortgages have set-up charges costing between £499 and £999, as well as penalty charges for you leaving the deal early.

A week ago the Halifax announced higher charges for these deals too, when taken by new customers.

The Halifax is not the only lender to have restricted its standard SVR mortgage offer as Nationwide has done so for SVR mortgage applications generated by mortgage brokers.

So, what do you think of Halifax's decision? Is it justifiable as they are concerned about losing business, or should you be allowed to move around to get a good mortgage?

(Please note that articles on Money Hospital do not constitute regulated financial advice. The articles are intended to provide general personal financial information. We urge you to consult an Independent Financial Adviser (IFA) before making any important decisions about your finances. All rates are correct at time of printing but are subject to change without notice.)

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