Halifax Intermediaries is set to introduce rate reductions across its product range, as of tomorrow, Wednesday 3rd July.
These reductions will include decreases of up to 0.19% on selected homemover and first-time buyer (FTB) products.
The product search tool on the Halifax Intermediaries website, Halifax Intermediaries Online, and sourcing systems will be updated by tomorrow, Wednesday 3rd July, to reflect these changes.
For brokers looking to secure existing product codes, applications must be submitted in full by 8 pm today 2nd July.
Nicholas Mendes, mortgage technical manager and head of marketing at John Charcol, said: “Halifax has made further rate reductions to their product range, targeting home movers and first-time buyers in response to market competition.
“Recently, many lenders have been repricing their offers in the run-up to the election, aiming to capitalise on the brief respite as buyer activity picks up again.
“With little expectation of significant incentives from the prospective Labour government, buyers have reengaged with the market after a short pause.
“SONIA swaps have fallen across the board since the end of yesterday, reflecting market expectations of potential easing in monetary policy by the Bank of England.
“While this is positive news, we are all awaiting the first cut in the bank rate to truly invigorate the property market.”
