Halifax reduces affordable housing rates

The changes, which came into effect today include:

New Buy and MI NewHome

 90% LTV 2 year fixed rate mortgage reduced by 0.30% to 4.69% with a £995 fee

 90% LTV 2 year fixed rate mortgage reduced by 0.30% to 5.09% with no fee

 90% LTV 7 year fixed rate mortgage reduced by 0.30% to 4.69 with no fee

Shared Equity and Shared Ownership

 Up to 60% LTV 2 year fixed rate mortgage is being reduced by 30bps to 2.74% with a £999 fee

 60% LTV 2 year fixed rate mortgage is being reduced by 30bps to 3.19% with a £999 fee

 Up to 75% LTV 2 year fixed rate mortgage is being reduced by 30bps to 3.59% with no fee

Craig McKinlay, new mortgages director at Halifax, said: “As one of the largest supporters of New Buy, Halifax already represents a third of all applications and completions on the scheme.

“By further reducing the rates across our affordable housing mortgages, we are continuing to demonstrate our commitment to helping home buyers in this sector make their way onto, and up, the property ladder.”