First Time Buyer
Halifax launches two-year fixed mortgage at 0.83 per cent
The eye-catching rate is available from today through mortgage brokers and is available at 60 per cent loan to value (LTV). The mortgage has a £1,499 fee and maximum loan of £1m.
The £999 fee option has been reduced to 0.87 per cent and the fee-free is priced at 1.16 per cent.
The lender has also launched a five-year fixed rate at 1.03 per cent and a 10-year fix at 2.07 per cent at 60 per cent LTV.
Halifax is the latest lender in recent months to bring out sub-one per cent deals, following the likes of HSBC and Nationwide.
Short-term offer
Doug Miller, director at Lansdown Financial Services, said: “The mortgage market is becoming fiercely competitive between lenders, as the housing market shows the first signs of slowing down.
“While the rate war between lenders continues to drive interest rates down, like all good things this will come to an end shortly. For those in a position to buy or remortgage now, you are in an enviable position of all other mortgage holders in the UK.”
Robert Payne, director at Langley House Mortgages, added: “The only caveat to this product is that your LTV is 60 per cent or below. Other than that, anyone that meets standard criteria with a good credit history will be eligible to apply.
“These rates are unlikely to be around for long and there is not much room for them to get any lower, so it really is worth considering fixing your rate for a longer period.”
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