Halifax has just announced rate reductions of up to 0.19% on 2 and 5 year fixed rate products for both first-time buyers and home movers (see screengrab below). Newspage asked brokers for their views, bottom.<img src="https://cdn.newspage.media/production/company/43/files/66c017a73299c9facf452734d52bb02fde4f6a0a60778e04ad4d1b188901359b756062dcda327a411b35e22db57fee81cc9978204f6b6d8ea5474dc7023ee1a5.webp">

mortgages

Halifax cuts rates by up to 0.19%

In a bold move defying the gloomy inflation figures, both Coventry Building Society and Halifax have announced rate reductions, signaling a strategic long-term vision in the mortgage sector. These adjustments may encourage more lenders to cut, creating a more positive outlook for borrowers and the broader property market.

Harps Garcha

At Brooklyns Financial throughout the process you as our client are at the centre of the service, and advice we provide. Over the last decade our business has been purely built up by existing client referrals along with introductions from our professional colleagues, which we believe validates the high level of service we provide. Our aim is to be there for our clients on a long-term basis by focusing on your present needs, along with your future goals and aspirations. We have access to a comprehensive panel of lenders, which allows us to provide you with options from both mainstream and specialist lenders in addition to exclusive products that may not be available on the high street. This allows us to match the best mortgage in the market to meet your personal requirements as our experience tells us ‘one size fit all’ is not the case. our location within the United Kingdom will not hinder the support we can give you. We do not stop at just arranging your mortgage, we will ensure both your property and family are protected as well. So, you have peace of mind about your future knowing that whatever life may throw at you, you have protected your loved ones to the best of you

This is a small but welcome offering from Halifax, especially after the higher than expected inflation data this morning, and has the potential to trigger further rate reductions by competitors. Halifax have followed the Coventry Building Society in cutting so I suspect we will see some more rate reductions from lenders in the days ahead.

Michelle Lawson

Michelle is fully CeMap-qualified (Certificate in Mortgage Advice and Practice) and is friendly, approachable and very knowledgeable. With 20yrs+ experience, her wealth of knowledge and expertise is reflective with her excellent reputation locally and nationally as a trusted advisor. She enjoys travelling, spending time with friends and family and walking her beagle, Winnie.

While not a huge reduction from the Halifax, it is still a reduction and a result for borrowers. That’s now three lenders that have cut rates already this week, which is positive news overall.

Katy Eatenton

No nonsense, straight talking mortgage and protection specialist with a passion for empowering women and helping Ltd company directors upgrade to their dream home whilst making sure every aspect of their life is protected.. Income, business, family and home :):)

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Catch these rates while you can. The calmer market we have had over the last few weeks has led to these changes from Halifax. However with the latest inflation figures coming in higher than expected, don't be suprised if these rates are gone by next week.

Elliott Culley

Established in 2021 we are an expert Mortgage, Protection & Specialist Lending Broker. We are directly authorised and also offer a mortgage network proposition for appointed representatives in the mortgage market. We are based in Hampshire, although we offer our services nationwide. We understand the challenges our prospective clients face and have the experience and expertise to help guide them through the complex mortgage market.

This is very positive news, especially coming from the UK's largest residential lender, Halifax. A rate reduction of up to 0.19% on 2 and 5-year fixed products for first-time buyers and home movers is a small but significant step in the right direction. With today's inflation data showing a drop from over 10% to just over 2%, this move aligns well with the improving economic outlook. We're anxiously waiting to see if other lenders will follow Halifax's lead and provide further relief to borrowers.

Dariusz Karpowicz

Here at Albion Financial Advice our emphasis is on high quality, face-to-face financial advice and an unrivalled level of customer service without obligation. This is pivotal to everything we do and is undoubtedly the reason why our customer base is expanding rapidly through recommendations from our clients. We are able to offer clients advice in each of the following areas: Business & Family Protection including Inheritance Tax on a “Best of Breed” approach and a comprehensive range of mortgages.

A modest drop by the Halifax, but a drop all the same. This offers a glimmer of hope that lower rates are on the way.

Ben Perks

Established in 2021, our aim is to inject some fun and enthusiasm into the world of financial advice. Being completely independent, we are able to look at mortgage products from the whole of the intermediary mortgage market. We have a broad range of insurers under our belt and are relentless in pursuit of the best deal and product to suit your needs! We use the latest technology to streamline processes and ensure matters are actioned as quickly and efficiently as possible.

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This is a very timely cut by Halifax, albeit more of a reaction to receding swap rates than the inflation figures out earlier today. This is another lender prioritising home-movers and first-time buyers to stimulate the housing market a little, but sadly neglecting those existing borrowers who need to remortgage. Let's hope those loyal borrowers will feel the financial benefit soon.

Justin Moy

Independent Mortgage and Protection Brokers, based in Essex, helping clients across the UK. Over 35 years in Financial Services, the last 17 years as a Mortgage Broker.

In light of positive commentary from the IMF and encouraging inflation figures, it's reassuring to see a major lender like the Halifax reducing mortgage rates. While the cuts are modest and unlikely to significantly boost consumer confidence on their own, true recovery will hinge on the Bank of England eventually reducing the base rate.

Ranald Mitchell

Co-owner at Charwin Private Clients since 2009, offering mortgages, buy to let, secured loans, commercial finance and bridging.

A taste of things to come with the inflation news and fingers crossed a base rate reduction in June! Hopefully we will see coverage of this to bring some positivity to buyers after a recent spike in rates

Halifax cuts rates by up to 0.19%

9 responses from the Newspage community
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Harps Garcha

Director at Brooklyns Financial

Michelle Lawson

Director at Lawson Financial

Katy Eatenton

Mortgage & Protection Specialist at Eatenton Finance

Elliott Culley

Director at Switch Mortgage Finance

Dariusz Karpowicz

Director at Albion Financial Advice

Ben Perks

Managing Director at Orchard Financial Advisers

Justin Moy

Managing Director at EHF Mortgages

Ranald Mitchell

Director at bad credit mortgage specialists Charwin Mortgages

Elliott Benson

Owner at Sett Mortgages

9 responses from the Newspage communityCopy all

9 responses from the Newspage community
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