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Halifax Intermediaries cuts two-year fixes

Halifax Intermediaries has cut the rates on a number of its two-year fixes by up to 0.70% and launched a range of new deals.

The new rates will be available from tomorrow.

Its two-year homebuyer fixed rate mortgage available up to 60% LTV has been reduced by 0.70% to 3.19%.

Its two-year homebuyer fixed rate up to 75% LTV has been reduced by 0.50% to 3.59%.

Both come with a £999 product fee.

It has also cut the rates on a number of its remortgage deals.

It two-year fixed rate, available to 60% LTV, has been reduced by 0.70% to 3.39%.

And its two-year fixed rate, available to 75% LTV, has been reduced by 0.50% to 3.69%.

Both deals also have a £999 product fee.

In addition, Halifax Intermediaries has launched two new trackers at 60% for both homebuyers and remortgage customers, with rates starting from 2.59%, and a £999 fee.

Changes have also been made to the existing two-year 75% tracker products with fees cut from £1499 to £999.

The move comes as the latest figures from Moneyfacts.co.uk reveal the average cost of a fixed rate mortgage is at its highest level in six months as lenders pass on rising funding costs.

The cost to lenders of raising funding on the swap rate market has soared in recent months.

Ian Wilson, head of sales for Halifax Intermediaries, says: “We know that brokers are talking to clients that are starting to think about moving from their SVR to a fixed deal.

“Together with the launch of the new deals, the reductions ensure that Halifax has competitive options at all LTV levels for these customers.”

 

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  • salil chaudhari 12th February 2011 at 8:43 am

    seems like product differentiation paranoi in the industry.

  • Ian Camp 11th February 2011 at 10:45 am

    So what has happened to cause such a reduction or have they been losing so much market share they needed to do something drastic and signals a significant change of attitude to the Intermediary market. Perhaps it just signals how wrong they got it at the beginning of the year.
    So far this year all Halifax has done is change their rates every 5 minutes, they have over 300 variations in their range – complete madness, god knows to what benefit!

  • Ian Camp 11th February 2011 at 10:44 am

    So what has happened to cause such a reduction or have they been losing so much market share they needed to do something drastic and signals a significant change of attitude to the Intermediary market. Perhaps it just signals how wrong they got it at the beginning of the year.
    So far this year all Halifax has done is change their rates every 5 minutes, they have over 300 variations in their range – complete madness, god knows to what benefit!