Effective from Thursday 1st February, Halifax has made a series of changes to its product range, including dropping selected remortgage rates by up to 0.53%.
For homebuyer products, including first-time buyer, new-build, large loans, affordable housing, shared equity or shared ownership, and the equivalent green home products, the lender extended end dates by three months and complete dates by one month.
For remortgage products including large loans, affordable housing, shared equity and shared ownership, and the equivalent green home products, the same extensions were applied.
In addition, selected 2-year, 3-year and 5-year fixed rate remortgage products were reduced by up to 0.53%, and maximum loans increased from £1m to £2m on selected fixed and tracker remortgages.
For product transfers and further advance products, Halifax made the same extensions and reduced 2-year and 5-year products by up to 0.46%.
To secure existing product codes, brokers should submit applications by 8pm today (31st January).
Nicholas Mendes, mortgage technical manager at John Charcol, said: “Despite Halifax holding a strong position with their purchase products in the marketplace, their remortgage deals unfortunately are nothing to be envious of.Â
“These latest reductions will make them more competitive which is good news for mortgage holders coming to the end of their fixed rate in the coming weeks, but still expect other lenders to have more preferential rates based on track record.”
