Halifax will not apply tracker collars

Halifax will pass on any Bank of England rate cut in full and will not apply its tracker collar.

All other HBOS brands will also be passing on the rate cuts to existing tracker borrowers.

A release from the lender says: ” As always, no decision will be taken on the SVR until after a decision by the Monetary Policy Committee.

“HBOS will also pass on the full benefit from any future Bank base rate reductions, including any decision today, to all of their existing customers with tracker mortgages.

“This will benefit a further half a million customers with tracker mortgages. The existing terms and conditions of these tracker mortgage customers state that they will pass on any future base rate reductions in full. “