Halifax offering lower mortgage rates through brokers

by Aaron Strutt

Mar 15 2016

Halifax for Intermediaries is offering a range of fixed rate mortgages undercutting its direct customer proposition.  

Trinity Financial has access to the bank’s semi-exclusive mortgage which is fixed at 1.39% until 30 June 2018.

At the end of the fixed period, the mortgage reverts to the lender’s standard variable rates, which is currently 3.99%. The overall cost for comparison is 3.75% APR

Aaron Strutt, product manager at Trinity Financial, says: “At the moment Trinity has access to a host of more competitively priced rates than customers applying directly through the bank. 

“The lowest fixed rate on the Halifax website is 0.25% more expensive, although it has a lower £495 arrangement fee. If the loan is small enough then it may make sense to take the lower fee product.

“For mortgages between £1 million and £5 million the rates are also more expensive when applying through the branches or direct website.”

The semi-exclusive fixed rate has a £999 arrangement fee and early repayment charges until 30 June 2018. Applicants will require a 40% deposit to qualify and the maximum loan size is £1 million.

Monthly costs

If you are looking to secure a £500,000 mortgage through Halifax and you choose the 1.39% two-year fix, the monthly repayments will £579.17 on an interest-only basis or £1,973.94 on a capital repayment basis over a 25-year term.

It is possible to reduce the monthly repayments if you take the two-year tracker rate because it is 0.10% lower.

For help to secure a Halifax mortgage call Trinity on 020 7016 0790.