Mortgages  

Halifax cuts 90% LTV rates

Halifax cuts 90% LTV rates

Halifax has reduced product rates on its 85 to 90 per cent loan-to-value two and five-year fixed first-time buyer and home-mover products by 0.3 per cent.

Craig McKinlay, mortgages director at Halifax, said: “Halifax is committed to providing great service and competitive products to our customers.

“In addition to our current £500 cashback offer, these rate reductions will further support first-time buyers and those who are looking to move up the housing ladder.”

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Key Features:

■ Two-year fixed-rate for first-time buyer and home-mover products – 85-90% LTV two-year fixed-rate products have been reduced by 0.3% with rates from 4.29% (£495 fee)

■ Five-year fixed-rate for first-time buyer and home-mover products –85-90% LTV five-year fixed-rate products have been reduced by 0.3% with rates from 4.99% (£495 fee).

Craig McKinlay, mortgages director at Halifax, said: “Halifax is committed to providing great service and competitive products to our customers.

“In addition to our current £500 cashback offer, these rate reductions will further support first-time buyers trying to buy their first home and home movers who are looking to move up the housing ladder.”

Industry view

Mark Lofthouse, chief executive of adviser technology service Mortgage Brain, said, “Despite repeated predictions for a rise in base rates in 2015 we are yet to see any real and comparative increases in mortgage rates over the past three and six months.

“Whether this will be the case in another three months’ time remains to be seen. What is certain, however, is that the continued rate drop will be seen as further welcome news to a lot of today’s potential homebuyers or those looking to re-mortgage.”