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Halifax offering super-cheap rates to attract wealthier borrowers

Over the last few weeks the mortgage price war has intensified as the lenders compete to offer the cheapest deals.

Halifax for Intermediaries has just launched a 1.10% rate fixed until 30 June 2023. It is available for mortgages over £250,000 and up to £1 million, and the product has a £1,499 arrangement fee - the APRC is 3.2%.  

Halifax has also launched a 1.17% rate also fixed until 30 June 2023 with the same £1,499 arrangement fee if you are looking for a mortgage between £1 million and £5 million. The APRC is 3.4%. 

Aaron Strutt, product director at Trinity Financial, says: “The biggest lenders are keen to attract borrowers looking for larger loans and they lowering their rates to undercut their competitors. More of the banks and building societies are providing interest-only mortgages and five-times salary multiples to ensure it is easier for them to qualify. They are also restructuring their staff to get deals agreed more efficiently."

Both of the rates mentioned above have early repayment charges and they revert to Halifax's standard variable rate of 3.59%. Applicants will need a 40% deposit to qualify, but larger mortgage loans are available for those with a 20% deposit.

Call Trinity Financial on 020 7016 0790 to secure a large mortgage loan or book a consultation

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