Halifax has today announced cuts on selected products of up to 0.16%. Highlights include a 5-year fixed rate at 3.99% with £999 fee up to 60% LTV and 2-year fixed rate at 4.36% with £999 fee up to 60% loan-to-value (LTV).
Andrew Montlake, Managing Director at Coreco said, “Lenders large and small are starting to shave rates every day now.
“This morning we had a new lender, April Mortgages, cut its rates and now we have a high street leviathan in the Halifax following suit. All of these cuts are really starting to drive demand and the prospects for the second half of the year look very promising.”
Michelle Lawson, Director at Lawson Financial said, “Halifax are joining the low rate party as they also go sub-4%, as well as adding foreign income from selected countries.
“Expect more lenders to come onboard as swap rates are finally coming down. We are on the cusp of a market change so buyers should be looking at acting sooner rather than later.”
Darryl Dhoffer, Mortgage Broker at The Mortgage Expert said, “Halifax have thrown themselves into the ring now, with a 5-year fix at 3.99% and a 2-year at 4.36%. Some may say based on bigger reductions from their competitors, it’s like throwing a pillow in a heavyweight bout, but history tells us that the Halifax stay the distance when other lenders may withdraw rates at the toss of a coin.”
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