MortgagesJun 12 2015

Halifax brings 16 new mortgage deals to market

Search sponsored by
Halifax brings 16 new mortgage deals to market

Halifax dominated the mortgage market this week, bringing 16 new deals for first-time buyers, homemovers and those remortgaging.

Halifax Intermediaries reduced the rates across its higher loan-to-value products, with Lloyds Banking Group’s interim director of strategic partnerships Ian Wilson stating that the broker channel is very important to the lender.

The main bank meanwhile, dropped rates by up to 0.3 per cent across its range. Mortgages director Craig McKinlay stated: “The reduction of rates within our two and five-year range demonstrates our ongoing dedication to helping homemovers and customers planning to remortgage save money by taking out a mortgage with Halifax.”

The deals came in a week when claimed that building societies were beating banks in terms of rate cuts, with its own analysis showing the average five-year fixed rate from banks as 3.51 per cent, while the average rate from building societies is just 3.21 per cent - a 0.30 per cent difference.

In the two-year fixed market, the average rate from banks is 2.78 per cent, but building societies again came in lower, with an average rate of 2.54 per cent. lower.

A spokesperson for the website said: “It is disappointing that despite all the money given to banks from the government-backed Funding for Lending Scheme and the ever-growing price war between providers that banks are still failing to compete on the overall cost.”

As for deals announced this week, intermediary-only lender Dudley Building Society launched three new products through its panel, including two aimed at clients looking for up to £1m.

Jeremy Wood, their chief executive, explained: “Last year much of our resource was employed in bedding in new processes and the new IT system, designed specifically to build our capability in the intermediary market.

“Having successfully completed that transition, this year we are focussing on developing our product range while continuing to improve our service to the intermediary community.

Sticking with building societies, Nationwide reduced selected two and three-year fixed rates and two-year tracker deals by up to 0.20 per cent for existing customers looking for a new deal, while Yorkshire Building Society’s intermediary arm Accord Mortgages launched a range of 20 fee-free fixed-rate mortgages.

Here are all the rates that were publicly announced this week:

LenderLTV/Type Headline Rate Product Fee
BM Solutions60%/3-year fixed2.99% (BTL)£995
BM Solutions60%/50year fixed3.39% (BTL)£1,495
Accord Mortgages65%/2-year fixed1.79%£0
Accord Mortgages65%/5-year fixed2.59%£0
Dudley Building Society75%/3-year fixed3.99% (or 3.49% discounted)
Clydesdale and Yorkshire Banks75%/2-year fixed2.09%£0
Clydesdale and Yorkshire Banks75%/5-year fixed2.89%£0
Nationwide75%/3-year fixed2.29%£999
Nationwide75%/3-year fixed2.59%£0
Halifax75-85%/2-year fixed2.39% (FTB)£495
Halifax75-85%/2-year fixed2.44% (home mover)£495
Halifax75-85%/2-year fixed2.49% (remortgage)£495
Dudley Building Society80%/3-year fixed3.19%
Clydesdale and Yorkshire Banks80%/2-year fixed2.19% £0
Clydesdale and Yorkshire Banks80%/5-year fixed3.09% £0
Halifax80-85%/5-year fixed4.14% (FTB and homemover)£495
Halifax80-85%/5-year fixed4.09% (remortgage)£495
Accord Mortgages85%/2-year fixed2.59%£0
Nationwide85%/2-year fixed2.14%£999
Nationwide85%/2-year fixed2.54%£0
Nationwide85%/2-year tracker1.84%£999
Nationwide85%/2-year tracker2.24%£0
Halifax Intermediaries85%/2-year fixed2.04%£1,499
Halifax Intermediaries85%/2-year tracker1.89%£999
Halifax Intermediaries85%/5year fixed3.86%£999
Halifax Intermediaries85%/2-year fixed2.39% (remortgage)£999
Halifax85-90%/2-year fixed3.68% (FTB and homemover)£495
Halifax85-90%/5-year fixed4.49% (FTB and homemover)£495
Halifax Intermediaries90%/2-year fixed3.44%£1,499
Halifax Intermediaries90%/5-year fixed4.24%£999
Halifax Intermediaries90%/2-year fixed3.79%£999
Clydesdale and Yorkshire Banks90%/2-year fixed2.49%£999
Clydesdale and Yorkshire Banks90%/5-year fixed3.49%£999
Halifax90-95%/2-year fixed4.69% (FTB and homemover)£495
Halifax Intermediaries95%/2-year fixed4.49% (Help to Buy)£999