Halifax Intermediaries is set to introduce key adjustments to its mortgage product range from tomorrow, Wednesday 5th March, offering reductions in fixed rates and an increased loan maximum for the First Homes scheme.
These changes are expected to benefit both home movers and first-time buyers, potentially making homeownership more affordable amid ongoing market fluctuations.
Among the most significant updates, selected fixed-rate mortgage products will see reductions of up to 0.14%.
In addition to the rate cuts, Halifax has announced an increase in the maximum loan amount available under its First Homes scheme, raising the limit to £1,000,000.
This expansion could enable more buyers to access the initiative, which is designed to help eligible first-time buyers and key workers purchase properties at a discount.
By raising the borrowing cap, Halifax aims to make the scheme accessible to a wider range of applicants, particularly in high-cost housing markets.
To accommodate these changes, Halifax will update its product search tools on the Halifax Intermediaries Website, Halifax Intermediaries Online, and various sourcing systems by 5th March.
Halifax has urged mortgage brokers and intermediaries looking to secure existing product codes to submit applications by 8pm today, Tuesday 4th March.
