Product details
- 5.89% fixed rate for seven years
- Available between 85-90% LTV
- For First Time Buyers only
- No product fee
- £500 cashback
Available from today, the new mortgage comes with no product fee, and customers are eligible to receive £500 towards their moving costs as part of the current offer on all first time buyer and homemover products.
This new longer term high LTV mortgage deal has been introduced as part of Halifax's campaign to help First Time Buyers onto the housing ladder. This was made possible as a result of Halifax's participation in the Government's Funding for Lending scheme - an initiative introduced to stimulate the UK housing market.
Ian Wilson, Head of Sales at Halifax Intermediaries, said:
"We are providing brokers with a very competitive product enabling them to offer their first time buyer clients; this 7-year product has been designed specifically with them in mind. With a 10% deposit, the certainty of monthly payments over a long period, the removal of upfront fees and £500 cashback at a time when they need it most - this offers a real solution for aspiring homeowners.
"In addition to this, we are making a number of changes to our product range and are pleased to be able to continue to support not only first time buyers, but the wider market. We're offering competitive rates and have a good range of products for homebuyers and remortgage customers to choose from, supported by our strong service proposition."
Halifax Intermediaries has reduced a number of selected 2 year fixed and tracker products for homemovers, first time buyers and remortgage customers by up to 0.20%.
The changes to the 2 year range include:
- 60% LTV fixed rates for homemovers and FTBs are being reduced by 0.20% now starting at 3.09%
- 0.60% LTV fixed rates for remortgage customers are being reduced by 0.20% now starting at 3.19%
- 0.75% and 75-80% LTV fixed rates for homemovers and FTBs are being reduced by 0.10% now starting at 3.59%
- 0-60% LTV trackers for homemovers and FTBS are being reduced by 0.15% now starting at 3.09%
- 0-75% LTV trackers for homemovers and FTBs are being reduced by 0.05% now starting at 3.59%
- 0-60% LTV and 0-75% LTV trackers for remortgage customers are being reduced by 0.20% with rates now starting at 3.14% and 3.64%
- No product fee 2-Year Trackers are also being introduced at 80 and 85% for Homemovers, FTB and Remortgage products
