Halifax, the UK's largest mortgage lender, has announced two changes to its mortgage products that the company claims will benefit both first time buyers and home movers.
The first is a new product launch designed to help first time buyers. Buyers signing up to the deal can borrow up to 97% of the value of the property and will benefit from competitive rates and GBP1000 cashback.
Halifax has also reduced the rate on its 10-year fixed home mover products. The rates have dropped from 5.85% to 5.49% on the mortgage with a GBP499 fee and from 5.89% to 5.69% on the fee-free offering.
The first time buyer product provides a good value option for people looking to get on the property ladder whilst our 10-year fixed home mover product offers borrowers long-term security by assisting with their financial planning, now with an even better rate, commented Mark Heaton, head of mortgages at Halifax.