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Halifax cuts rates on five-year remortgages

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  • 18/05/2020
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Halifax cuts rates on five-year remortgages
Halifax has reduced the rates on a number of its five-year fixed residential remortgages up to 85 per cent loan to value (LTV) as of 18 May.

 

This includes the five-year fee-free remortgage product at 0-60 per cent LTV, which has been reduced by 0.34 per cent to 3.35 per cent. The equivalent at 60-75 per cent LTV has seen a rate cut of 0.29 per cent to 3.40 per cent. 

The fee-free five-year fixed remortgage at 75-80 per cent LTV has a rate of 3.45 per cent, down from 3.74 per cent. The 80-85 per cent equivalent has been reduced by 0.49 per cent to 3.50 per cent. 

Halifax has also extended the end and complete by dates of its remortgage, homemover, first-time buyer and shared ownership mortgages by three months. 

The lender reintroduced its products up to 85 per cent LTV in April after cutting lending to 80 per cent LTV due to restrictions imposed by the health crisis. Last week, Halifax revised its self-employed and furloughed borrower guidance.

Ian Wilson, head of Halifax Intermediaries said: “As part of our ongoing commitment to the intermediary market, we remain focused on supporting brokers by helping provide greater choice and value for money to customers.”

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