Halifax joins rivals lenders in cutting mortgage rates by up to 0.71%
Halifax for Intermediaries has become the latest major mortgage lender to cut rates on its two-, five- and 10-year residential fixes by as much as 0.71%.
The county's largest provider of mortgage home loans business says its reductions cover first-time buyers, new build, large loans and shared equity products, which will come to market on Friday, 11 August.
- A five-year purchase fix repayment and interest-only mortgage deal for those with a 40% deposit are available at just below 5.30%, down by 0.71%.
- A two-year purchase fix repayment-only mortgage for those with a 20% deposit starts at around 6.20%, reduced by 0.27%.
- And a 10-year fixed purchase mortgage on capital repayment and interest-only for those with a 25% deposit priced at just over 5.10% has been lowered by 0.10%
Aaron Strutt, from mortgage broker Trinity Financial, told the BBC: "More of the larger banks and building societies are lowering their rates, which is good news especially given the scale of rate increases we have seen in recent months.
"It would not be a surprise if more of them improve their rates over the coming weeks. Lenders are starting to realise the market is slowing down, and they need to improve pricing to attract more borrowers."
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The information contained within was correct at the time of publication but is subject to change.
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