Halifax is the latest lender to cut its mortgage rates following the Bank of England’s decision to hold the base rate at 5.25 per cent earlier this month.
From Monday, the bank is refreshing its purchase, remortgage and product transfer rates.
Its reductions mean that some borrowers will once again be offered a rate of less than five per cent.
Borrowers buying a home will benefit from rate cuts of up to 23 basis points (bps) while those remortgaging will be able to access deals that are 36 bps cheaper.
Highlights from the purchase rate cuts include;
- Two-year fixed rate cut by 23 bps to 5.73 per cent up to 75 per cent loan to value (LTV), with no arrangement fee.
- Two-year fee-free fixed rate available up to 90 per cent LTV cut by 16 bps to 6.16 per cent.
- Five-year fixed rate at 5.04 per cent, cut by 22 per cent bps, available up to 75 per cent LTV, zero fee.
- Two-year fix at 5.44 per cent, cut by 20 bps, at 60 per cent LTV with an arrangement fee of £999.
- Five-year fixed rate of 4.93 per cent, cut by 22 bps, at 60 and 75 per cent LTV with a £999 fee.
Remortgage rate cuts include:
- Two year-fix at 5.94 per cent, down 21 bps, at 60 per cent LTV with no fee.
- Five-year fee-free fixed rate of 5.48 per cent, down 26 bps, at 80 per cent LTV.
- Two-year fixed rate of 6.13 per cent, down 10 bps, at 90 per cent LTV with a £999 arrangement fee.
- Five-year fixed rate ay 5.16 per cent, down 17 bps, at 60 per cent LTV with a £999 fee.
Rate reductions on product transfers and further allowances have not yet been released.
