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First-time Buyers

Halifax cuts first-time buyer rates

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
04/03/2015

Halifax has cut mortgage rates on a number of its first-time buyer products.

The lender has also increased the maximum loan sizes across its affordable housing and new build product ranges.

Halifax will now accept shared equity and shared ownership loans of up to £350,000, this is £100,000 more than was previously the case.

The maximum loan for new build properties with a loan-to-value of 80-85% is now £500,000, double the previous amount.

For loans worth between 85 and 90% of the purchase price this has been increased from £500,000 to £750,000.

In addition, Halifax’s 60-75% loan-to-value two-year fixed rate products have been cut by 0.15% with rates now starting at 1.99%, with £1,995 fee.

Craig McKinlay, mortgages director at Halifax, said: “Halifax is committed to providing competitive mortgages and great service to our customers.

“The reduction in rates and increases to our maximum loans for new build and affordable housing ranges will enable us to continue to support first-time buyers and the new build market.”


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