Halifax Intermediaries will refund the cost of valuation for first-time buyers and home movers borrowing more than £200,000 on selected products.
Ian Wilson, head of Halifax Intermediaries, said that, upon completion, the refund will be paid directly to the customer.
For people purchasing in Scotland, a refund of £250 will be made.
Mr Wilson said: “We appreciate how expensive it can be for your clients to move home – whether they are a first-time buyer or a home mover.
“That is why we are offering valuation fee refunds for all home buyers with a mortgage of £200,000 and above on selected products.”
Halifax also offers a valuation fee promise, which means it will refund a customer’s first valuation fee if their initial purchase falls through and they go on to complete on a mortgage for another property.
Adviser view
Brian Murphy, head of lending for national firm the Mortgage Advice Bureau, said: “These changes are positive developments for borrowers, and is further evidence of an extremely competitive market, with almost daily notifications of lenders trying to ensure their products stand out from the crowd.
“The past few weeks have seen almost all product and rate changes being firmly in the borrowers’ favour, thereby benefitting all sectors of the market, be they first-time buyers, home movers or those refinancing existing arrangements.”
