Halifax cuts mortgage rates below 4% following BoE decision - following HSBC and Barclays shift
dailyrecord.co.ukHalifax has joined the list of top lenders, including Barclays, HSBC, NatWest, and Nationwide, in reducing mortgage rates below 4 per cent.
This move is expected to stimulate property sales.The current deals are designed for buyers with large deposits and often come with substantial application fees.
However, there's hope that these benefits will soon extend to the wider mortgage market.Among Halifax's new deals is a five-year fixed-rate mortgage at 3.99 percent for a 60 percent loan-to-value (LTV) ratio, which comes with a £999 fee.
It also offers a two-year fixed-rate deal at 4.36 percent with a £999 fee for up to 60 percent LTV.The Bank of England recently lowered the base rate to 5 per cent, the first decrease since the pandemic began in March 2020.
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