First-time Buyers
Halifax cuts first-time buyer mortgage rates
Halifax has cut the rates it charges on some of its fixed rates at higher loan-to-values, which are particularly suitable for first-time buyers.
The lender is also giving borrowers £500 cashback when they complete their mortgage.
Halifax now offers a five-year fixed rate at 5.09% with no fee on loans up to 90% LTV, and a seven-year fixed rate at 4.99% with no fee on loans up to 90% LTV, both with £500 cashback.
It has also cut the rates charged on its NewBuy and MI New Home (Government scheme) mortgage deals.
Qualifying borrowers can now get a two-year fixed rate up to 95% LTV at 4.99% on NewBuy with a £995 fee, or the same deal charged at 5.39% with no fee.
Halifax is also offering a seven-year fixed rate on NewBuy/MI New Home at 4.99% with no fee.
Stephen Noakes, mortgages director at Halifax, said:
“We know that moving house can be an expensive time, and while homebuyers tend to budget for costs like stamp duty and estate agent fees, they often get caught out by other costs, such as surveying – so we hope that this extra money will come at time when our customers need it most.
“With this new offer and reduced rates Halifax continues to show its ongoing support for home movers and first time buyers. And we have committed to continue our support for first-time buyers in future, as just last month the Group pledged to lend £6.5bn to first time buyers during the course of 20134.”
To work out how much your mmonthly repayments would be on one of these products, visit our mortgage calculator.