‘Hats off to the Halifax’ as it cuts rates by up to 0.31%

Halifax is the latest lender to announce rate cuts, which will go live from tomorrow, Friday 7th March.

Selected remortgage fixed rates will be reduced by up to 0.25% while product transfer and further advance rates will be reduced by up to 0.31%.

Newspage asked brokers for their views, below.

Katy Eatenton, Mortgage & Protection Specialist at Lifetime Wealth Management said, “Rates are once again moving in the right direction. Hats off to the Halifax for these cuts as for borrowers, even small reductions can result in big savings. And in such a tough economic climate, even the smallest of savings can make a difference.”

Tony Castle, Managing Director at PFG Mortgages said, “Halifax has dropped mortgage rates just in time for spring, giving homebuyers a much-needed break as the housing market heats up. With lower rates, the season of new beginnings just got a little more affordable—so it’s the perfect time to act before this opportunity slips away.”

David Sterling, Director at Mint Mortgages & Protection said, “Halifax’s move to reduce rates on selected remortgage, product transfer, and further advance products offers much-needed relief to homeowners and those looking to remortgage.

“With rates slashed by up to 0.31%, Halifax is helping borrowers better manage their mortgage costs in an increasingly competitive market.

“As further rate cuts are expected throughout 2025, now is the perfect time for borrowers to carefully assess their options and secure the most favourable rates. For those seeking expert guidance, consulting a broker can ensure you make the best decision for your financial future.”