Halifax offer homebuyers £500 towards the cost of moving home

Designed to ease the financial pressures associated with purchasing a property, Halifax has today announced details of an offer to give homebuyers £500 towards the cost of moving home on completion of a property purchase.

Research shows that over the last 10 years, the cost of moving home has increased by 69%, with the average removal cost being £1,110 when using a professional removal company. The expense of moving home is now at its highest level since the peak of the housing market in 2007, with costs in the UK rising at a faster rate than house prices over the past decade.

Stephen Noakes, Mortgage Director at Halifax said; "Many homebuyers budget for major costs such as stamp duty and estate agent fees when purchasing a property. However, sometimes the many other costs, such as removal costs can catch buyers out and add further pressure to tight purse strings. With £500 cashback towards the cost of moving home we are helping to alleviate some of this pressure and support homebuyers." 

The offer will be available to homebuyers who take out a mortgage with Halifax between 31st August and 22nd October with £500 paid to the customer via their conveyancer, once the purchase has been completed. In addition, customers who instruct a solicitor using Halifax conveyancing will also be eligible to save an additional £200.

The offer will also be available on selected New Build, NewBuy and Shared Equity / Shared Ownership products through the Halifax intermediary channel.

In further support of the first time buyer market, Halifax has today reduced its 2 year fixed rates by 0.20%.

1.75-80% LTV at 3.94% with no fee
2.80-85% LTV at 4.44% with no fee
3.85% -90% LTV at 6.09% with no fee

Halifax has recently announced a number of initiatives and rate reductions to show its support of the housing market most recently becoming the only lender to offer a valuation fee promise, which provides customers with a full refund of valuation costs to mortgage applicants if their home purchase falls through, through no fault of their own.