Mortgage News
Halifax brings in sub-one per cent remortgage deals
Halifax is the latest lender to start offering sub-one per cent products, with four remortgage deals exclusive to selected mortgage brokers launching today.
The products come with both two and five-year fixed rate terms, with rates starting from 0.9 per cent.
The two-year fixed rate with a £1,499 fee has a rate of 0.9 per cent, while its five-year fixed rate with the same fee has a rate of 0.98 per cent.
The lender will also bring out a two-year fixed rate with a £999 fee with a rate of 0.91 per cent, and its five-year fixed rate with the same fee will have a rate of one per cent.
All the above products are exclusive to remortgage and have a maximum loan-to-value (LTV) of 60 per cent. They are all available between £25,000 and £1m.
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The lender is the latest in recent months to bring out sub-one per cent deals, with Nationwide introducing a five-year fixed rate mortgage product in July. It is available at 60 per cent LTV and is eligible for those moving house and remortgaging.
TSB also launched a sub-one per cent product with a rate of 0.99 per cent in June, whilst HSBC launched its lowest-ever fixed rate of 0.94 per cent.
Brokers canvassed by this publication earlier this year said that mortgages with sub-one per cent rates would enable lenders to increase their market share and open the door to high-risk borrowers.