Halifax has combined a series of mortgage rate reductions with an innovative offer of £500 towards homebuyers’ broadband and digital TV packages.
It has cut rates by up to 0.2% on a number of fixed-rate and tracker mortgages for homemovers, first-time buyers and remortgage customers. The lender has cut also cut rates in its affordable housing mortgage range by 0.4%.
This follows a string of rate cuts announced last week by lenders including NatWest, Barclays, HSBC and Leeds Building Society.
The cuts, which take effect from 2 August, include:
Two-year fixed rate up to 85% LTV for homemovers reduced by 0.2%, with rates now starting at 3.79%.
Two-year fixed rate up to 75% LTV for homemovers cut by 0.2%, rates now start at 2.19%.
Two and five-year fixed-rate products up to 90% LTV for first-time buyers and homemovers cut by 0.2%, with deals now starting at 4.69%.
Halifax has also reduced the rates on its NewBuy and MI New Home products, where deals now start at 4.49%.
Craig McKinlay, new mortgages director at Halifax, said: “Homebuyers play a key role in ensuring the strength of the property market, and we are committed to helping these customers take their first or next step on the ladder by continuing to offer competitive rates and an excellent range of products to choose from.
“By further reducing the rates across our affordable housing mortgages, we are continuing to demonstrate our commitment to helping home buyers in this sector make their way onto the property ladder.”
As part of the new campaign, Halifax will pay £500 towards a chosen media package for all homebuyers, which could include broadband and digital TV packages.
This follows Halifax research earlier this year showing that nearly one in three people said a good broadband signal was a factor in deciding whether to buy a property, while one in five would pay more for a home with good broadband.
Its research shows that of those who would consider paying more for good broadband, 67% would pay up to 3% more for a property with a good broadband signal and 22% would pay between 4% and 10% more.
Craig adds: “Buying a new home is one of the most costly purchases people make, and making those first home improvements can leave little change for recreational activities. Therefore, we are offering our homemover customers added value through our current offer of £500 towards the media package of their choice.”
The offer is available for a limited period only.
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