Halifax has introduced new first-time buyer mortgage products alongside rate reductions of up to 0.20% on selected deals, following Wednesday’s decision to lower the minimum income for enhanced LTIs through First Time Buyer Boost to £40,000.
The updated pricing applies across 2-, 3- and 5-year fixed rate products up to 95% LTV, covering both fee-free and £999-fee options.
Halifax said the adjustments are intended to support first-time buyers navigating current affordability pressures.
On 3-year fixed rates, the largest reductions apply between 90% and 95% LTV, where rates have been cut by 0.20%.
These now start at 4.97% on fee-free products and 4.80% with a £999 fee. At 0-90% LTV, reductions of 0.05% have been applied, bringing rates to 4.62% and 4.45% respectively.
Across 2-year fixed rates, Halifax has reduced pricing by up to 0.09% between 90% and 95% LTV and by 0.05% between 0% and 90% LTV.
Fee-free options now start at 4.36%, while products with a £999 fee begin at 4.16%.
Small reductions have also been made to 5-year products, with cuts of up to 0.08% at higher LTVs and 0.02% at lower LTVs.
