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First-time Buyers

Halifax slashes first-time buyer rates

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
01/07/2015

Those looking to make their first step onto the property ladder can now access lower rates from Halifax, the bank has announced.

The lender has reduced rates on products by up to 0.5% in its first-time buyer range, with loans available for those with a 10% deposit.

It has also lowered rates for home movers who wish to fix for two or five years by up to 0.45%.

New two-year fixes include a 90% loan-to-value deal available at 3.19% with a £495 fee or a fee-free equivalent at 3.39%.

For remortgage customers a 2.14% rate is on offer at 85% loan-to-value with a £495 fee while the fee-free option is available at 2.34%.

For those looking to fix longer with the Halifax, a first-time buyers product is available at 4.24% up to 90% loan-to-value. This also comes with a £495 fee but is available fee-free for the higher rate of 4.44%.

At 85% loan-to-value rates are now 3.84% (with £495 fee) and 4.04% (no fee) for remortgage customers.

Craig McKinlay, mortgages director at Halifax, said the changes to the product range would give customers greater choice.

“Halifax is committed to providing competitive mortgages and great service to our customers,” he said.

“The reduction in rates across our two and five-year product range for first-time buyers, home movers and remortgage customers will enable us to continue to support first-time buyers and those moving up the housing ladder.”


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