Halifax intermediaries has introduced new 1.5-year fixed rate remortgage products, available from Thursday 28th November.
The products include £250 cashback, for loans between £25,000 and £2m with a £1,499 fee, and do not include conveyancing services.
The lender extended its complete by dates on all other remortgage products.
Products with terms of 2-years or more continue to offer the conveyancing service without a cashback.
The rate details are: 4.37% to 60% loan-to-value (LTV); 4.62% to 75% LTV; 5.04% to 80% LTV; 5.25% to 85% LTV; and 5.63% to 90% LTV.
Amanda Bryden, head of Halifax Intermediaries & Scottish Widows Bank, said: “Brokers have told us that their clients are keen to see more shorter-term products.
“With this latest launch, we’re delivering the certainty of fixed payments balanced with a term that offers more flexibility.”
Nicholas Mendes, mortgage technical manager at John Charcol, said: “Halifax’s introduction of a 1.5-year fixed-rate product is an interesting move that not only offers clients a unique balance of stability and flexibility but also enhances their competitive edge in the remortgaging market.
“With most competitors providing a 2-year fixed as the shortest term, this innovative product gives Halifax an edge in attracting remortgaging clients.
“By adding this innovative option to their criteria toolkit, Halifax is clearly positioning itself to attract remortgaging opportunities ahead of competitors.
“This product allows clients to lock in a fixed rate while keeping their options open for a review slightly earlier than the standard two-year term, making it particularly appealing in the current uncertain rate environment.
“It’s a clever addition to their arsenal, aligning well with the needs of borrowers seeking both security and adaptability.”
