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Halifax launches 90 per cent LTVs for home movers

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  • 28/01/2021
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Halifax launches 90 per cent LTVs for home movers
Halifax has released a range of purchase products for those moving home at 85-90 per cent loan to value (LTV).

 

The launch of these mortgages come a month after the bank resumed lending at 90 per cent LTV with two products for first-time buyers. 

Purchases for new-build properties will not be eligible on the mortgages, neither will purchases made using schemes such as Help to Buy or Shared Ownership. 

An enhanced credit score will be applied to applications and it has a maximum loan to income (LTI) of 4.49x. 

The maximum loan amount is £500,000. 

Mortgages include a two-year fixed with a fee of £999 and a rate of 3.35 per cent, while the fee-free option is set at 3.44 per cent. 

There are also two five-year fixes including a £999 fee paying product with a rate of 3.59 per cent, and a fee-free alternative at 3.79 per cent. 

The two-year mortgages have early repayment charges (ERC) starting at two per cent in the first year, before dropping to one per cent in the final year.

For the five-year fixes, ERCs start at five per cent in the first year, before dropping to one per cent in the final year.

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