As of 1 July, Halifax has cut rates by up to 0.98 per cent for existing customers.
Within its product transfer and further advance range, the fee-free two-year fix at 0-60 per cent loan to value (LTV) and the three-year equivalent for borrowing amounts between £0 to £99,999 have both been cut by 0.98 per cent to 1.5 per cent.
The five-year 60 per cent LTV equivalent has been cut by 0.97 per cent to 1.62 per cent.
Other product transfer and further advance deals in higher LTV tiers up to 85 per cent have seen reductions from 0.83 per cent.
For product transfer and further advance deals from £100,000 to £249,999, rates have been cut by up to 0.21 per cent across two-, three- and five-year fixes.
Reductions of up to 0.17 per cent have been made for deals with loan sizes from £250,000 to £7.5m.
This includes a two-year fixed at 60-75 per cent LTV, with a £1,499 fee reduced by 0.06 per cent to 1.17 per cent and the five-year equivalent cut by 0.08 per cent to 1.46 per cent.
Ian Wilson (pictured), head of Halifax Intermediaries, said: “We are constantly reviewing our offering and listening to broker feedback as part of our commitment to the intermediary market. These changes are designed to help support our existing customers in the current environment.”
Foundation Home Loans revises specialist residential criteria
Foundation Home Loans has made changes to the criteria of its specialist residential range following feedback from its adviser, distributor and packager partners as part of its strategy to increase its residential market share.
The lender will now accept one year of accounts for self-employed clients and borrowers no longer need a minimum time in employment for their current job. However, borrowers must have a minimum of three months’ employment history.
It will also accept up to 100 per cent bonus and commission, investment income or rental income.
Borrowers are also allowed to capital raise to purchase buy-to-let properties and the maximum payment term has been increased to 40 years.
These criteria changes follow a recent update to Foundation’s products including raising LTV from 75 per cent to 80 per cent, the launch of five-year deals, and an offering for first-time buyers.
Jeff Knight, director of marketing at Foundation Home Loans, said: “The market is delivering a far greater number of specialist residential enquiries to adviser desks, and we want to be in a strong position to help, especially in terms of those cases which may be beyond the ordinary.”
