Halifax Intermediaries and Scottish Widows cut rates

Paula John
Written By:
Paula John

Halifax has reduced rates across its two and five-year first-time buyer, home mover and remortgage ranges by up to 0.45%.

For example its two-year fixed and tracker rates at 60% LTV are being reduced by up to 0.45% with rates from 1.49% tracker and 1.64% fixed.

Again, its 75-80% LTV two-year products are being reduced by 0.20% with rates from 2.29% (tracker) and 2.44% (fixed).

Rates are also falling by 0.20% on its two-year shared equity and shared homeownership ranges, including the Help to Buy Equity Loan, with rates from 3.44% fixed and 3.74% on the Equity Loan.

There are also further reductions across the lender’s two and four-year products.

Ian Wilson, head of Halifax intermediaries, said: “Halifax had a strong year in 2014, with competitive products and a commitment to providing a great service to the intermediary market. These rate reductions demonstrate that we are serious in our intention to continue to build on this in 2015.”

Scottish Widows has also announced rate cuts of 0.20% on selected products in its Professional and Flexible mortgage ranges.

Gordon Bowden, director at Scottish Widows Bank, said: “Scottish Widows Bank is known for offering competitively priced, innovative mortgage deals, together with superlative service. This is a big year for Scottish Widows Bank and our goal for 2015 is to build on this reputation, starting with these new rates.”