First-time Buyers
Halifax cuts first-time buyer rates
Halifax has reduced rates on its first-time buyer mortgage range and has limited the maximum fees charged.
The lender has cut rates by up to 0.3% and has limited the maximum fee payable to £495, it has announced.
It said the lower rates would also enable more customers to take advantage of its fee-free mortgages.
Halifax has also increased the maximum loan size to £1 million on many of its home mover, first-time buyer and remortgage products.
New rates include:
60-75% LTV five-year fixed rates reduced by 0.2% with rates now from 2.74% (£495 fee) or 2.94% (£0 fee)
75-80% LTV five-year fixed rates reduced by 0.3% with rates now from 3.04% (£495 fee) or 3.24% (£0 fee)
80-85% LTV five-year fixed rates reduced by 0.3% with rates now from 3.54% (£495 fee) or 3.74% (£0 fee)
85-90% LTV five-year fixed rates reduced by 0.3% with rates now from 3.94% (£495 fee) or 4.14% (£0 fee)
Craig McKinlay, mortgages director at Halifax, said: “The reduction of rates within five-year range will support borrower’s needs for long-term stability, and demonstrates our ongoing dedication to helping home movers and first-time buyers looking to save money by taking out a mortgage with Halifax.
“The removal of products with fees above £495 will allow more customers to benefit from a competitive mortgage with a zero fee option.”