Halifax has lowered two and five-year fixed rates for homebuyers and movers by up to 0.45 per cent, bringing some deals under five per cent.
Its two-year fixed rate at 60 per cent loan to value (LTV) has fallen from 4.62 per cent to 4.29 per cent.
At 80 per cent LTV, the cut is from five per cent to 4.57 per cent and at 85 per cent the fall is from 5.02 per cent to 4.57 per cent.
The lender’s two-year fixed rate at 95 per cent LTV has decreased by 0.34 per cent to 5.51 per cent.
Within five-year fixed rates, its deal at 80 per cent LTV has fallen by 0.37 per cent to 4.18 per cent and at 85 per cent LTV the rate has gone from 4.57 per cent to 4.18 per cent.
The lender’s five-year fixed rate at 95 per cent LTV has gone down by 0.35 per cent to five per cent.
All the products above have a £999 fee.
Amanda Bryden, head of Halifax Intermediaries and Scottish Widows Bank, said: “There is increasing confidence in the market and rates are falling. These cuts will be a boost to anyone looking to get on or move up the housing ladder.”
This is the second round of rate cuts from the lender in as many weeks as it kicked off the new year with decreases of up to 0.92 per cent across its remortgage, product transfer and further advance products.
Other high street lenders, like HSBC, Natwest, TSB, Santander and Barclays have also lowered their rates in recent days.
Building societies, smaller banks and specialist lenders have also joined the rate cutting wave as swap rates, which dictate mortgage pricing, started to fall at the end of last year.
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.
