Halifax has cut interest rates on mortgage deals for first-time buyers by up to 0.3 percentage points and has also reduced the fees on a number of fixed-rate products.
The new offers are available to homemovers as well.
Headline rates include:
- 60-75 per cent loan-to-value (LTV) five-year fixed rates from 2.74 per cent (£495 fee) or 2.94 per cent (£0 fee)
- 75-80 per cent LTV five-year fixed rates from 3.04 per cent (£495 fee) or 3.24 per cent (£0 fee)
- 80-85 per cent LTV five-year fixed rates from 3.54 per cent (£495 fee) or 3.74 per cent (£0 fee)
- 85-90 per cent LTV 5 year fixed rates from 3.94 per cent (£495 fee) or 4.14 per cent (£0 fee)
The bank has also raised the maximum loan limit for all customers buying their first property, moving home or remortgaging. Loans of up to £1 million are now available at 0-60 per cent LTV and 60-75 per cent LTV.
Craig McKinlay, mortgages director at Halifax, said:
“The reduction of rates within five-year range will support borrower’s needs for long-term stability, and demonstrates our ongoing dedication to helping home movers and first-time buyers looking to save money by taking out a mortgage with Halifax.
“The removal of products with fees above £495 will allow more customers to benefit from a competitive mortgage with a zero fee option.”
