Halifax lowers stress rate by 0.25%

Ryan Bembridge

September 27, 2016

Halifax Intermediaries has reduced its stress rate after the Bank of England cut the base rate to 0.25% in August.

The lender’s corresponding stress rate has been lowered by 0.25% to 6.75% for new mortgage applications.

Ian Wilson, head of Halifax Intermediaries, said: “Reducing our mortgage affordability stress rate forms part of our ongoing commitment to providing a range of accessible, value for money products designed to meet the changing needs of borrowers, while continuing to support brokers in delivering for their clients as the market continues to evolve.”

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