You are here: Home - Uncategorized -

Is this the lowest ever two-year fixed rate?

Written by:
Halifax's new 0.83 per cent two-year fix could be the lowest ever launched, as competition in the mortgage market hots up
Is this the lowest ever two-year fixed rate?

Halifax has launched a new two-year fixed rate mortgage at just 0.83%, widely regarded as being the lowest ever two-year fixed deal.

The rate is available on mortgages up to £1m with a deposit or equity stake of 40% of the property’s value and comes with a £1,499 fee.

Borrowers can choose from a lower fee option at a slightly higher rate – £999 fee fixed at 0.87 per cent – or a fee-free option at 1.16 per cent.

Rhys Schofield, managing director at Peak Mortgages and Protection, said: “One word: wow! Where the UK’s largest mortgage lender goes, others will surely follow. As ever, though, these headline grabbers often come with significant set-up fees and the Halifax are about the only high street lender still charging for a basic valuation, which means that for many people the cheapest deal overall often lies elsewhere.

“Speak to a broker and they’ll be able to work out whether this product is right for you almost instantly.”

Long-term mortgage security

For borrowers who are looking for a longer period of payment security the lender has also launched a five-year fixed rate at 1.03 per cent and a 10-year fix at 2.07 per cent for borrowers with a 40 per cent deposit upfront.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your Mortgage Guides

Your Mortgage Award Winners 2021-2022

Read our guide to the best mortgage lenders in the UK

Read More >