View more on these topics

Halifax extends seven-year mortgage deal to NewBuy customers

Halifax Intermediaries will now offer its seven-year no product fee mortgage deal to all NewBuy customers at 5.89 per cent.

Halifax has also reduced the rates on the two-year fixed product range by up to 0.2 per cent. The two-year fixed rate at 80 per cent to 85 per cent LTV for homemovers has been brought down by 0.1 per cent to 4.79 per cent.

The rate on the 75 per cent to 85 per cent two-year fixed for remortgages has been reduced by 0.2 per cent to 4.89 per cent.

Halifax Intermediaries head of sales Ian Wilson says: “We are already leading in the new-build market, and this offer will prove to be yet another compelling proposition for brokers’ NewBuy customers. To supplement our unrivalled specialist new-build team, we now also have a much more competitive product. This will allow brokers to provide their customers – no matter whether they are first time buyers or homeowners – with longer term certainty at higher LTV.

“The long term nature of this deal will provide customers with the certainty of set monthly payments over a greater length of time; enabling potential buyers to purchase new homes they would have previously considered unattainable.”

Halifax currently provides more than one in three of the mortgages in the Government’s NewBuy scheme.

Recommended

Incomes forecast to rise from next year

Real disposable incomes are set to rise again in 2013 after four consecutive years of decline. The latest report by economic forecasters Cebr suggests that incomes will continue to fall over the course of 2012, by 0.2 per cent, due to slow wage growth and high inflation. By 2013 this downward trend is expected to […]

Scotland launches own MIG scheme

The Scottish Government last week launched its own mortgage indemnity scheme called MI New Home. So far, Nationwide and Royal Bank of Scotland the only two lenders signed up to provide mortgages for the scheme. It was first announced by the Scottish Government in June 2011 and £250,000 was awarded to housebuilding industry body Homes […]

SRA probes conveyance firms over fraud risk

The Solicitors Regulation Authority is conducting a review of the current practices of conveyancing firms to reduce the risk of mortgage fraud. Following the review, which is due to run until the end of 2013, the regulator will update its draft supervision and enforcement strategy for conveyancing, a first draft of which was originally published […]

FOS sees increase in consumers submitting own PPI complaints

The Financial Ombudsman Service last week revealed it had seen a shift away from the use of claims management companies, with half of payment protection insurance complaints referred directly by consumers. The FOS has published its latest complaint data today showing the most complained about firms between 1 January and 30 June this year. It […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Tom Cleary 21st September 2012 at 3:07 pm

    Not terribly helpful seeing as most brokers are not on the Approved Panels of the major house builders. Until control of this element is wrestled from the builders, NewBuy will remain a closed shop…

  • Paracha 20th September 2012 at 4:33 pm

    7yr fix at 5.89%, does anyone find that might be a bit steep, as a broker how can this product be recommended to clients..when in all likelyhood it might be better going onto the 2yr product which is much cheaper then just go onto the svr?

    alot of people went onto similar fixed products 5-6yrs ago and others went onto tracker products at similar rates, its quite evident who came out on top