First-time buyer rates reduced at Halifax

Halifax has announced today that it has reduced its rates across first-time buyer and homeowner products.

Related topics:  Finance
Warren Lewis
3rd March 2015
Mortgage Contract

The lender has also increased maximum loan amounts across affordable housing and new build ranges by up to 100%.

Some of the changes include; Shared Equity/Shared Ownership loan amount increasing from £250,000 to £350,000, New Build 80-85% LTV loan amount rising from £500,000 to £1,000,000 and New Build 85-90% LTV loan amount increasing from £500,000 to £750,000.

The new rates include:

Two-year fixed rate and tracker products for first-time buyers and homemovers:

60-75% LTV 2 year fixed rate products have been reduced by 0.15% with rates from 1.99% (£1,995 fee)

Product Transfer Rate reduction:

0-60% LTV 2 year fixed rate products have been reduced by 0.2% with rates from 2.17% (No fee)

Craig McKinlay, Mortgages Director at Halifax, said: “Halifax is committed to providing competitive mortgages and great service to our customers. The reduction in rates and increases to our maximum loans for New Build and Affordable Housing ranges will enable us to continue to support first-time buyers and the new build market.”

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