Halifax drops cost of fixed rates

Halifax is cutting the price of fixed rate mortgages.

A two-year fixed rate for homebuyers is falling from 4.4% to 4.3%, while a three-year fix drops from 5.15% to 4.99%. A five-year fix falls from 5.4% to 5.2%.

For remortgages, Halifax is dropping the two-year rate to 4.59%, while a five-year fixed rate is available from 5.25%, down from 5.4%.

The bank has also launched a three-year tracker capped at 5.25%. Available to all homebuyers at up to 97% LTV, the three-year capped tracker has a pay rate of 0.75% above base rates. There is an arrangement fee of £299.