The Mirror - Halifax announces 'surprise' change for customers 'from Wednesday' with extra costs

Halifax has confirmed changes for customers that will result in extra costs. It has raised mortgage rates by up to 0.12% in a "surprising" move after Nationwide's cuts yesterday, as brokers said the market was "chaotic" right now. Halifax's homemover and first-time buyer mortgages are going up by up to 0.12% from Wednesday, while its remortgage rates are going up by up to 0.05%.

Aaron Strutt, product and communications director at London-based Trinity Financial, told The Mirror this was just a repricing with Halifax at the cheaper end of the market.

"This is a surprising move from Halifax based on Nationwide's announcement that it is lowering rates because of the drop in mortgage funding costs. It seemed like rates would be coming down rather than going up again, even if it is only by a small amount. Halifax is currently offering some of the cheapest two, three and five-year fixes so it must be getting lots of applications."

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