Halifax offering 1.29% tracker rate for mortgages up to £1 million
*This rate was increased by 0.2% on 11 July 2016.
Halifax is offering an impressively low 1.29% two-year tracker, priced at 0.79% over the Bank of England base rate until 30 September 2018.
At the end of the tracker period, the mortgage reverts to the lenders standard variable rate which is currently 3.99%. The overall cost for comparison is 3.8% APR.
Aaron Strutt, product director at Trinity Financial, says: “Halifax is one of the most generous lenders offering mortgages to self-employed clients when they have one year’s accounts and minor blips on their credit record. The bank also has a product transfer service making it easier to remortgage before the rate finishes.
“If the Bank of England does lower the base rate, this rate does not have a cap and the monthly repayments will reduce. However, there is a 0% floor to ensure trackers could not enter negative territory.”
The 1.29% rate provided by Halifax has a £999 arrangement fee and early repayment charges for the first two years. Applicants will need a 40% deposit to qualify and there is a maximum loan size of £1 million.
To secure a fixed or tracker rate mortgage, call Trinity on 020 7016 0790.
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
