Mortgage Strategy - Halifax and BM Solutions trim prices by up to 0.25%

Halifax has announced rate reductions of up to 0.25%, effective tomorrow.

The lender’s remortgage rates have been lowered by as much as 0.25% on two-, three- and five-year fixed rates. Rates have also been cut by up to 0.24% on product transfer and further advance two- and five-year fixed rates.

Commenting on the rate changes, Trinity Financial product and communications director Aaron Strutt says: “The fixed rate mortgage price reductions are still coming through, but it seems unlikely there will be many more for a while. Mortgage funding costs have risen, and the lenders are almost certainly waiting to pass the price hikes on to borrowers.”

“Once one of the big banks makes a price increase the others will follow. HSBC has two-year fixes from 4.42% and five-year fixes from 4.58% and I suspect these will look like a bargain in a few weeks time, unless we start getting some better news from the Middle East.”

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The information contained within was correct at the time of publication but is subject to change.  It is for general information purposes and is not advice.

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