Halifax to Raise Mortgage Rates
Halifax has announced that will raise mortgage rates for customers with smaller savings, starting from next Monday.
Homeowners who haven’t saved at least 25 per cent of the value of their property will pay 0.14 per cent extra, on top of the main interest rates.
In the other hand Halifax will encourage borrowers into putting down bigger deposits by reducing the rates by 0.1 per cent if they have a deposit of 25% or more.
In contradiction to rumours that Halifax was about to follow rival First Direct and stop borrowing to first time buyers. Halifax has revealed that will launch a range of mortgage deals for first time buyers, including a five year fixed rate deal at 5.69 per cent for 90 per cent of the property value.
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[…] Mortage Tips and Loans wrote an interesting post today onHere’s a quick excerpt Halifax has announced that will raise mortgage rates for customers with smaller savings, starting from next Monday. Homeowners who haven’t saved at least 25 per cent of the value of their property will pay 0.14 per cent extra, on top of the main interest rates. In the other hand Halifax will encourage borrowers into putting down bigger deposits by reducing the rates by 0.1 per cent if they have a deposit of 25% or more. In contradiction to rumours that Halifax was about to follow rival Firs […]
[…] week, First Direct became the biggest lender to withdraw entirely from offering new mortgages, and several small building societies have also been forced to […]