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Halifax unveils mortgage rate cuts

7th September 2010 | back to article listings BACK    print this article PRINT

Halifax has announced reductions across its range of mortgage products as part of its Great Rate Cut.

Borrowers who apply for a Halifax mortgage before October 3 this year will now receive a reduction of at least 0.30% off their mortgage rate until the end of next year. Customers with a Halifax current account can enjoy a further reduction of 0.20%, providing a total cut of 0.5% until the end of 2011.

Halifax has announced a new two-year tracker to coincide with the launch, which is available to those looking to move home as well as first time buyers. The Great Rate Cut sees a rate of 2.49% on offer until the end of next year and then 2.79% for a further year.

A rate of 2.29% can be accessed by new and existing current account customers, until the end of next year when they'll move on to 2.59%. For deals up to 60% loan-to-value there is a tracker available with a product fee of £1,495.

Between now and the end of 2011 a customer would make a saving of about £450 if they were borrowing £150,000 as a result of the rate cut.

Copyright © Press Association 2010

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