Halifax cuts rates
The two year fixed-rate mortgage at 3.79 per cent is the lowest ever fixed rate offered by the Halifax.
Philip Hanson, head of mortgages at Halifax, commented: “Base rates are now at their lowest level since the 1950s and both current homeowners and prospective buyers have been keen to take advantage of these favourable conditions to fix their monthly mortgage repayments.
“Following last week's interest rate cut, Halifax has taken the opportunity to make the most of favourable money market rates to re-price the existing range of fixed rate mortgages. For example, a five year fixed-rate mortgage is now available at 4.95 per cent which will be ideal to for homebuyers looking to fix their costs for a longer period.”