Halifax is set to reduce the rates on first-time buyer and homemover products by as much as 0.25 per cent as the market becomes even more competitive.
The changes come into effect on Monday and include rate reductions on new-build and affordable housing as well as shared equity and shared ownership.
The largest rate reductions of 0.25 per cent are on two, three and five-year fixed products at 60 to 75 per cent loan to value (LTV).
This includes a five-year fixed homemover product at 60 per cent LTV which has been cut from 1.73 per cent to 1.48 per cent. The product is subject to a fee of £1,499 and has a minimum loan value of £250,000 and maximum loan value of £1m.
There are also select rate reductions of up to 0.2 per cent on two, three and five-year fixed rates at 75 to 80 per cent LTV products.
An example of this is a five-year fixed first time buyer product at 70 to 75 per cent LTV, which has been cut from 2.32 per cent to 2.12 per cent. It is subject to a product fee of £999 fee and has a minimum loan value of £25,000 and maximum loan of £1m.
On 80 to 85 per cent LTV products, rates on two, three and five-year fixed terms have been cut by up to 0.14 per cent.
This includes a two-year fixed new-build homemovers product at 80 to 85 per cent loan to value, which has been cut from 2.86 per cent to 2.72 per cent. It has no product fee and is available between £25,000 and £1m.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.