Halifax Intermediaries revamps FTB and moving rates

Halifax Intermediaries will make price changes to select products for first-time buyers and movers, including affordable housing – share shares and condominiums, on Monday, February 14.

The broker-only subsidiary says the move will cut rates by up to 34 basis points on certain fixed-rate products from 85-90% to two-year fixed and five-year fixed-rate offerings from 75% to 80%, LTV Products 80% to 85%, 85% to 90% and 90% to 95%.

The overhaul will also raise rates by up to 10 basis points on certain two-year fixed rate mortgages on LTV products from 85% to 90%.

The lender says all of the above changes apply to equivalent green home loans.

It adds that the completion dates and product end dates are extended by three months of the year concerned on these offers.

To secure existing product codes, brokers must submit applications in full by 5 p.m. on Saturday, February 12.

The Halifax Intermediaries online product finder and other sourcing systems will be updated by Monday 14 February.

Last week, Halifax has launched its first products under the government’s First Homes scheme, designed to help young people and key workers move up the housing ladder.

The lender is now offering a two-year fixed rate loan at 2.12% LTV with no fees and £250 cash back if the property has an A or B energy performance certificate.

It also has a five-year fixed rate loan at 2.13% LTV, no fees and £250 cashback if the property has an energy performance certificate rating of A or B.

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