First-time Buyers
Halifax cuts mortgage rates by up to 0.50%
Halifax Intermediaries has cut the interest rates charged on its first-time buyer, home mover and remortgage loans from today, by up to 0.50%.
For example, its 85% to 90% loan-to-value (LTV) two-year fixed rate for first-time buyers has been reduced by 0.50% to 4.99% and its seven-year fixed rate offered at up to 90% LTV has also been cut by 0.50% to 5.19% and offers a £1,000 cash back.
The New Buy and MI New Home product range has also been reduced by 0.50% with two-year and seven-year products now being offered with rates from 5.19%.
Ian Wilson, head of sales at Halifax Intermediaries, said: “We announced a succession of rate reductions at the start of the month across our product range and I am pleased that we are able to continue this. With these reductions in the higher LTV ranges, we are providing brokers with an even more competitive suite of products to offer their clients.”
Earlier this week, Lloyds Banking Group made a £6.5bn commitment to first- time buyers.
