Saturday

Halifax mortgage rates down

Halifax, one of Britain’s biggest mortgage lenders, has cut its mortgage rates for the second time this week. Several of its most popular fixed or tracker-rate deals are being cut by an average of 0.25%, for borrowers who can put down a deposit of at least 25%. In the past week, other lenders, such as the Newcastle building society, Yorkshire building society and the nationalised Northern Rock, have also reduced the cost of some of their deals. Coventry, and also the Britannia building society, now offer their best deals to customers who can put down a deposit of at least 50% of a property's value. For borrowers wanting to remortgage, competitive trackers currently include Abbey’s two year at 5.54 per cent with a £1,999 fee and Woolwich's lifetime tracker at 0.69 per cent above base rate, up to a maximum value of 60 per cent.

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