Mortgage rates look set to keep falling in 2024 as Halifax makes large price improvements
Halifax for Intermediaries has lowered rates on its remortgage, product transfer and further advance products by up to 0.92%.
For remortgage products, Halifax's two, five and 10-year fixed rates have been improved by up to 0.83% and completion dates have been extended by one month.
An example includes its two-year fixed rate with £999 fee up to 75% loan-to-value, which has been lowered by 0.83 per cent to just over 4.80%.
Product transfer and further advance products for existing Halifax customers have fallen by up to 0.92%.
Aaron Strutt, product director at Trinity Financial, says: "The lenders will want to have the strongest possible start to the year. It seems highly likely that more banks and building societies will improve their rates over the coming weeks and fight it out to offer the cheapest deals.
"Two- and three-year fixes are edging closer to 4.5% and Generation Home launched a sub-4% five-year fix just before Christmas. With more economists predicting the Bank of England base rate will come down this year and some pretty big reductions to the cost of funding, mortgages are set to be more competitively priced throughout 2024."
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The information contained within was correct at the time of publication but is subject to change.
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