Halifax announces new fixed rate mortgage products

Halifax has announced two changes to its mortgage products which will benefit both first time buyers and homemovers.

The first is a new product launch designed to help first time buyers. Buyers signing up to the deal can borrow up to 97% of the value of the property and will benefit from competitive rates and £1000 cash back.

Halifax has also reduced the rate on its 10 year fixed homemover products. The rates have dropped from 5.85% to 5.49% (-0.36%) and 5.89% to 5.69% (-0.20%).

Mark Heaton, head of mortgages, Halifax said: "We continually review our products to ensure we are offering the best possible rates to our customers. The first time buyer product provides a good value option for people looking to get on the property ladder whilst our 10 year fixed homemover product offers borrowers long-term security by assisting with their financial planning, now with an even better rate."