It’s a battle for the best mortgage deals out there, and Halifax is throwing down the gauntlet! They’ve rduced rates on some of their most popular two and five-year fixed mortgages, hoping to tempt borrowers away from the competition.

Halifax has reduced rates across a range of loan-to-value (LTV) ratios. This means that whether you’re a first-time buyer with a small deposit or a seasoned homeowner with a hefty down payment, there could be a better deal for you. The changes apply to deals up to 90% LTV, so you can borrow a significant chunk of the purchase price without needing a huge deposit.

Fighting For The Top Spot

Halifax is currently offering the best two-year fixed rate on the market at 4.12% with a £999 fee. This is for those with a 60% LTV, meaning you need a 40% deposit. But over five years, it’s NatWest that’s been leading the charge, with a 3.77% fixed rate, although it does come with a slightly higher £1,495 fee.

But wait, Halifax is fighting back! Their five-year deal is now at 3.81% with a £999 fee. That could be tempting for those looking for a longer-term mortgage with a lower upfront cost.

More To Come?

Experts believe these changes are just the start of a wider trend. Nick Mendes, a mortgage broker at John Charcol, thinks we can expect even more reductions in the near future. He’s predicting another interest rate cut by the Bank of England in September, which could force lenders to offer even better deals.

So, if you’re thinking of taking the plunge into property, now could be a good time to talk to a mortgage broker. They can help you find the best deals and make sure you get the right mortgage for your situation. The market is moving fast, so don’t miss out on these competitive rates!