Halifax Intermediaries has made changes to its home conveyancing, first-time buyer, remortgage, product conveyancing and additional progression bands, effective tomorrow (3 November).
Rates will be reduced by up to 0.22% on two-, three- and five-year fixed remortgage products and by 0.11% on two-year remortgage products.
The refinancing product has extended by and expiry dates.
Elsewhere, product transfer rates and advanced rates were reduced by 0.22% on two- and five-year fixed products, while two-year tracking rates were reduced by 0.11%.
Products across home relocation, first time buyer, remortgage, product relocation and other progress ranges have been completed and completion dates have been extended.
Commenting on the changes, Aaron Strutt, product and communications director at Trinity Financial, says: “I’m pretty sure Halifax has withdrawn the two-year tracker rate of 3.99%, but they are offering it back. They have a two-year tracker rate of 3.99%, which is available to homebuyers with a 40% deposit, and has a fee of £1,499.”
“Barclays still has a base rate tracker of 3.99% of Premier clients earning over £75,000 with a £999 fee and a 40% deposit requirement. It will be interesting to see what the Bank of England’s Monetary Policy Committee does on Thursday. Even if the base rate rises, the best trackers will still undercut fixed rates by a very large margin.”
“Halifax has the cheapest two-year interest rate at 4.78% and the lowest five-year interest rate also at 4.78% for major current account holders.”
“Both rates have a fee of £999 and borrowers need a 40% deposit to qualify. There are still some lenders offering fixes under 5% but there aren’t many to choose from.”
Earlier today, Barclays confirmed interest rate cuts on a selection of products across residential purchases and remortgages.
