Halifax offering 1.27% three-year fix for £250,000+ remortgages

by Aaron Strutt

Oct 28 2020

This rate has been withdrawn.

Halifax for Intermediaries is offering a selection of incredibly cheap three-year fixed-rate mortgages. 

Halifax's lowest three-year rate is priced at 1.27% and it is fixed until 31 December 2023. It has a £1,499 arrangement fee. At the end of the fixed period, the rate reverts to the bank’s 3.59% standard variable rate, and the overall cost for comparison is 3.2% APRC representative.

This 1.27% product is available for remortgages, and applicants will need a 40% deposit to qualify. The minimum loan size is £250,000 and the maximum loan size is £1 million.

If you are purchasing a property the rate increases to 1.36% but the arrangement fee reduced to £999 and there is no minimum loan size requirement. The maximum loan size is £1 million, and borrowers also need a 40% deposit to qualify.

Aaron Strutt, product director at Trinity Financial, says: “Halifax recently pulled a section of its two-year fixes but launched some of the cheapest-ever three-year rates. Lots of borrowers are opting for five-year and ten-year fixes, but there are some great shorter-term products."

Representative example: A mortgage of £250,000 payable over 25 years, initially on a fixed-rate for two years at 1.27% and then on a variable rate of 3.59% for the remaining 22 years, would require 38 monthly repayments of £973 followed by monthly repayments of £1,226. The overall cost for comparison is 3.1% APRC representative. 

The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration. 

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage