The Mirror - Halifax customers handed 'positive news' as key cost cut 'from Friday'
Tags: Press Commentary
Halifax has given customers some good news, with a change kicking in from tomorrow.
It has cut its mortgage rates by up to 0.1% as sub-5% deals hit the market again and brokers said it was "positive news". The lender announced selected rate reductions that would be available from Friday, October 9.
Aaron Strutt, product and communications director at London-based Trinity Financial, said there were now sub-5% fixes for borrowers to choose from.
He added: "Halifax is the latest big bank to announce rate cuts and there are rumours that there will be more pricing improvements coming from other large banks over the next few days. Santander and Yorkshire Building Society are topping the best buy tables at the moment after bringing back more sub-5% fixes for borrowers to choose from.
"Just a few days ago it seemed like all of the sub-5% fixes would be pulled, but now there are at least six lenders offering them. This shows how quickly the mortgage market moves and why it is so important to monitor mortgage rates when you have a mortgage offer out so you can swap to cheaper rates if they suddenly appear.”
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