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Halifax offers £1,000 cashback to first-time buyers

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Halifax has announced a £1,000 cashback offer for first-time buyers borrowing 75% to 90% loan to values (LTV) on two-year deals, or 85% to 90% LTV on seven-year deals.

The offer will be available to first-time buyers who take out a mortgage with Halifax between 23 October and 6 December, with £1,000 paid to the customer via their conveyancer once the purchase has been completed.

The lender is also offering an additional £150 cashback for homebuyers who have or open a Halifax current account.

Stephen Noakes, mortgage director at Halifax, said: “Buying a house can be a stressful experience, especially for first-time buyers, so we’ve introduced this offer to help make things easier for our customers. The £1,000 should go some way to covering unexpected costs like buying necessary furniture and personalising the home – or even going on holiday to unwind when the whole experience is over.”

Halifax has also announced rate reductions across its two-year fixed mortgage range for homemovers and first-time buyers.

Rates will reduce by 0.10 for deals up to 60% loan-to-value (LTV), 0.05% for deals between 60 to 75% LTV, 0.15% for deals between 75 to 80% LTV and 0.10% for deals between 85 to 90%.

The lender is also making rate reductions on its two-year fixed remortgage range by 0.05% on deals up to 75% LTV, and 0.15% on deals between 75 to 80% LTV. It is also reducing the rate on its five-year range by up to 0.20% for deals between 75 to 85%.

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