Halifax Building Society has launched a new home-mover mortgage product, exclusively available to the intermediary market, as well as a range of new 'low start' stepped fixed-rate mortgages.
Halifax’s new fixed-rate home-mover mortgage product, which is available to new and existing customers, is designed to help consumers who are moving home and will be targeted at the higher end of the market. Halifax has said that it will allow buyers to borrow up to 85% of the value of the property and will offer a rate of 4.99%, fixed for two years.
Jack Saxton, managing director of Halifax intermediaries, commented: This is a good value product to help support intermediaries advising new and existing Halifax customers who are moving home.
Halifax’ range of ‘low start’ stepped fixed-rate mortgages are also available to both new and existing Halifax customers, and are specifically designed to help buyers deal with the initial costs of buying a home, and adjust their financial planning over the longer term, whether they are first-time buyers or moving home.
Halifax has said that introductory rates for the range vary from 1.99% to 3.99%, and that fees vary accordingly, enabling borrowers to select the product that best suits their individual needs. As with the other products in the Halifax mortgage range, extended early repayment charges will not apply to this new range.