Changes apply to its two and three-year fixed rates across residential, product transfer and additional borrowing deals. 

For example, its two-year fixed purchase rates for homemovers and first-time buyers start from 5.09 per cent at 60 per cent loan to value (LTV) for a deal with a £999 fee. The fee-free option has a rate of 5.49 per cent. 

Across its three-year fixes for homemovers and first-time buyers, rates start from 4.99 per cent up to 60 per cent LTV and go up to 5.64 per cent for the option at 85 to 90 per cent LTV. These products have a £995 fee. 

Its two-year fixed remortgage rates begin from 5.19 per cent for product with a £999 fee at 60 per cent LTV. The fee-free option is priced at 5.59 per cent. 

 

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Halifax adds three-year fixed remos 

Halifax has launched a range of three-year fixed remortgages. 

Up to 60 per cent LTV, the rate is 5.08 per cent with a £999 fee. This goes up to 5.64 per cent at 90 per cent LTV. 

 

Self-employed changes 

Both lenders also made changes to criteria for self-employed borrowers. 

TSB updated its criteria so that self-employment income support scheme (SEISS) grants will no longer need to be deducted or validated for affordability. 

The bank will now accept Scottish child payments (SCP) as a form of other income and this must be keyed under child benefit. 

Halifax’s change means the income used in affordability calculations for all self-employed applications will be the latest year or the average of the last two years, whichever is lower. 

Previously, when the income in the previous year was up to £50,000, it considered the lower income of the last two years for its affordability assessment.