Halifax Intermediaries has made updates to its mortgage product range, which will take effect from tomorrow (Friday 4th October).
For homemover and first-time buyer products, Halifax is offering rate reductions of up to 0.11% on selected options.
This reduction will make borrowing more affordable for customers either looking to purchase their first home or move to a new property.
In addition, the complete-by dates for all homemover and first-time buyer products have been extended.
The remortgage product range has also seen improvements, with rate reductions of up to 0.24% on selected options.
As with the homemover and first-time buyer products, the remortgage offerings now come with extended complete-by dates.
In the product transfer and further advance categories, selected products will also experience rate reductions.
For intermediaries and customers, the updated rates and extended deadlines will be reflected in the product search tool on the Halifax Intermediaries Website, Halifax Intermediaries Online, and various sourcing systems by Friday, October 4.
Anyone looking to secure a product under the existing rates must submit their applications in full by 8pm today (Thursday 3rd October).
Nicholas Mendes, mortgage technical manager and head of marketing at John Charcol, said: “The latest round of rate reductions announced by Halifax comes as little surprise, given the broader trend observed in the market over the last few days.
“With HSBC and Barclays leading the way with similar rate cuts, Halifax’s move appears to be part of an industry-wide recalibration in mortgage pricing.
“Halifax’s reduction in rates, ranging from 0.11% for home movers and first-time buyers, to a more significant 0.24% for remortgage products, indicates a targeted strategy to attract both new customers and retain existing ones.
“Extending the completion dates on all products also provides borrowers with added flexibility.
“The continued repricing across various types of mortgage products reflects the banks’ efforts to enhance competitiveness.”
