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Halifax’s latest fixed product will not be attractive to FTBs

I was interested to read last week that Openwork is offering an exclusive two-year fixed rate product from Halifax with a 90% LTV at 6.49%, aimed at home movers and first-time buyers (Mortage Strategy Online).

Unless big lenders return to sensible lending aimed at first-time buyers, they will not be interested in returning to the market.
For a major lender to charge 6.49% and borrow at 0.69% represents a huge profit.

Borrowers are better off saving an additional 5% and opting for one of the many deals aimed at first-time buyers that are below 4%.

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BEN THOMPSON, DIRECTOR OF MORTGAGE, LEGAL & GENERAL

Beginning to gain a cycological edge

It’s now less than a month before we set off on our cycle ride to Spain and at last the weather has picked up. Since we started training last autumn it feels like the windiest, wettest and coldest days have saved themselves up for the Sundays when we’ve done our longest rides so it’s been […]

Mortgage deal for Lloyds current account holders

Lloyds TSB is offering its current account customers a 0.2% reduction on mortgage rates if they deposit at least £1,000 a month and take out a new mortgage with it.

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