The changes, which came into effect on Friday 12 April include: New Buy and MI NewHome rates at 90% LTV two year fixed rate mortgage reduced by 0.30% to 4.69% with a £995 fee; a 90% LTV two year fixed rate mortgage reduced by 0.30% to 5.09% with no fee; and a 90% LTV seven year fixed rate mortgage reduced by 0.30% to 4.69 with no fee.
For first time buyers and home movers in the shared equity and hares ownership sector the lender’s product for up to 60% LTV two year fixed rate mortgage is being reduced by 30bps to 2.74% with a £999 fee; its 60% LTV two year fixed rate mortgage is being reduced by 30bps to 3.19% with a £999 fee and its product for up to 75% LTV two year fixed rate mortgage is being reduced by 30bps to 3.59% with no fee.
‘As one of the largest supporters of New Buy, Halifax already represents a third of all applications and completions on the scheme,’ said Craig McKinlay, new mortgages director at the Halifax.
‘By further reducing the rates across our affordable housing mortgages, we are continuing to demonstrate our commitment to helping home buyers in this sector make their way onto, and up, the property ladder,’ he added.