The Times - Borrowers rejoice over the return of the 1 per cent mortgage
The 1% mortgage is on its way back. Halifax, one of the country’s biggest lenders, this week launched a two-year fixed-rate loan at 1.05 per cent in a move that is likely to lead to even cheaper mortgages.
The last time homebuyers could get a mortgage at close to the 1% was 2016, when HSBC offered a 0.99 per cent deal, a record low. This triggered a rate war, with mortgage brokers claiming that homebuyers had never had it so good.
Aaron Strutt, of Trinity Financial, told The Times: “Halifax has really pushed the price war into new territory with this super-low rate.”
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