Halifax has introduced a new 1.5-year fixed-rate product for remortgages, featuring rates starting at 4.37% and £250 cashback across all options.
Halifax Product Highlights:
You might think that being a doctor automatically makes you an ideal candidate for a mortgage, but that’s not always the case. Here’s why:
- 60% Loan-to-Value (LTV): 4.37% rate with a £1,499 fee, available for loans between £25,000 and £2m.
- 85% LTV: 5.25% rate with a £1,499 fee, available for loans between £25,000 and £2m.
- 90% LTV: 5.63% rate with a £1,499 fee, available for loans between £25,000 and £750,000.
Amanda Bryden, head of Halifax Intermediaries & Scottish Widows Bank, stated:
Clients have expressed a desire for more flexible short-term options. Our new product delivers fixed-payment certainty alongside the flexibility of a shorter commitment.
Nicholas Mendes, mortgage technical manager at John Charcol, highlighted the uniqueness of the product:
This offering gives Halifax a competitive edge by catering to clients who value shorter fixed terms. It combines stability with flexibility, allowing clients to review their options sooner—particularly appealing in today’s fluctuating rate environment.
Residential:
- Five-year fixed rates for first-time buyers and home movers (90%-95% LTV) increased by 0.15%.
Buy-to-Let (BTL):
- Two-year fixed house purchase and remortgage (0%-60% LTV): rates reduced by 0.10%.
- Five-year fixed remortgage (0%-60% LTV): rates reduced by 0.10%.
- Two- and five-year fixed (0%-75% LTV): rates increased by up to 0.30%.
Product Transfers:
- Residential two-year fixed (80%-85% LTV): rates reduced by up to 0.15%.
- Additional borrowing rates for BTL two- and five-year fixes increased by up to 0.30%.
These changes reflect TSB’s efforts to fine-tune its offerings to meet evolving customer demands and market conditions.
Understanding how much you can borrow is the first step in setting realistic property goals, so make sure to check your borrowing capacity before house hunting.