New remortgage cashback offer launches at Halifax

Halifax has announced today that it has introduced a new offer for customers looking to remortgage direct with the bank earning customers £250 cashback automatically on completion of their mortgage.

Related topics:  Finance
Warren Lewis
1st March 2016
Halifax

In addition, it has reduced product rates across its first time buyer and home mover range by 0.2%.

£250 cashback offer when remortgaging to Halifax

With remortgage rates starting from 2.24%, customers looking to switch their mortgage to the Halifax before 24th April could stand to make substantial savings. Not only with the latest cashback offer, but on the overall cost of remortgaging: Halifax customers can take advantage of the bank’s Switcher Service, which offers customers a dedicated mortgage adviser and no charge for the standard valuation costs and basic legal fee. On average, this saves customers around an additional £300.

What’s more, following the switch, customers are likely to continue to benefit from savings. Recent research from Halifax[i]highlighted the potential savings for borrowers moving from a variable rate onto a fixed one improved significantly over the course of the past two years. A borrower taking out a fixed rate in November 2015 would be paying £457 a month on a £100,000 loancompared with £555 on the average standard variable rate – a saving of £99 a month; 50% higher than two years earlier.

Rates reduced across first time buyer and home mover range:

Rates have been reduced by 0.2% on two and five year fixed rate home mover and first time buyer mortgages. Rates now start from 1.84% with a £495 fee on a two year fixed rate mortgage.

Those looking to fix for longer can benefit from five year deals starting at 2.54% with a £495 fee.

Craig McKinlay, Mortgages Director at Halifax, said: “Halifax is committed to providing competitive mortgages and great service to our customers. Existing homeowners stand to save a significant amount by switching their mortgage to the Halifax, not only on their monthly payments, but this latest offer means that the cost and any hassle has also been reduced significantly.”

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