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Halifax launches no fee FTB mortgage
Halifax has launched a fee free 2-year fixed rate mortgage for first-time buyers, with a rate of at 5.99% available between 85-90% loan to value.
The lender is also offering a £500 cashback to help cover the other costs of buying a first home.
The maximum loan amount is £1,000,000 and has an early repayment charge of 3% in year 1 and 2% in year 2.
Stephen Noakes, mortgages director at Halifax, said: “Housing affordability is at an eight-year high for first-time buyers at the moment, largely as a consequence of the fall in house prices since 2007.
“However, buying a house has always been an expensive process and for first-time buyers every bit of help counts.
“By waiving the fees on this product and offering £500 cashback, we can give first-time buyers the chance to put that money towards supplementing their deposit or purchase some essentials for their new home.”
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