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Halifax latest lender to join rate war

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Written by:
15/09/2014
Halifax Intermediaries has become the latest brand to reduce its mortgage rates as competition between lenders hots up.
Halifax latest lender to join rate war

Halifax has reduced rates across its two- and five-year new purchase mortgages by up to 0.3%. The lender has also reduce remortgage rates by up to the same amount.

The new products are available from today, Friday 12 September.

Highlights in the Halifax two-year range include 75% LTV products being reduced by up to 0.2%, 75-80% mortgages being reduced by up to 0.3% plus 80-85% products are being reduced by up to 0.30%.

In addition, five-year products at 60% LTV are being reduced by 0.25%

Halifax joins lenders including Barclays, Accord, Nationwide, Skipton and Coventry who have all lowered rates so far this month.

NatWest Intermediary Solutions joined the rate war yesterday by cutting a number of products. Its two-year fixed rate first-time buyer 90% LTV mortgage saw the biggest reduction, being lowered 0.64% from 5.09% to 4.45%.

Its two-year fixed rate 90% LTV was cut by 0.5% from 5.19% to 4.69%.

Ian Wilson, head of Halifax intermediaries, said: “We are making a number of pricing reductions across our product ranges to help customers save money when purchasing or remortgaging with Halifax.

“With these reductions across all LTV ranges, we are responding to the changing market. We are pleased to be able to continue to support not only first time buyers, but also the wider market.”

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