Halifax slashes mortgage rates

Customers that apply for a Halifax mortgage between September 6th and October 3rd will get a 0.30 per cent reduction in the mortgage rates until the end of 2011.

Borrowers with a current account with Halifax will benefit even further as they will receive another 0.20 per cent reduction.

The company has also launched a new two year tracker mortgage available to home movers and first-time buyers as part of Halifax's Great Rate Cut.

On offer at a rate of 2.49 per cent until 2011 followed by 2.79 per cent for another year for 60 per cent loan to value and a product fee of £1495 the new two year fix is one of the most competitive mortgage rates on the market.

New and existing current account customers can access a rate of 2.29% until the end of next year, when they'll move on to 2.59 per cent.

Stephen Noakes, commercial director of mortgages at Halifax, said: "The Halifax Great Rate Cut sees us making significant reductions across our whole product range for homebuyers. We know that the first year in a new home can be expensive, so this rate cut should make a helpful difference for customers."

Halifax's recent property type review revealed that detached properties have increased in cost by £91 a day over the past year.
 

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2010-09-07 12:10:04 © Moneyextra.com