HomePERSONALMajor rate cuts at Halifax and Barclays plus reprice at Leeds –...

Major rate cuts at Halifax and Barclays plus reprice at Leeds – Mortgage Strategy

Halifax is cutting rates by up to 30 basis points while increasing others tomorrow, Barclays has reduced rates by up to 25 bps today and Leeds is repricing in both directions.

At Halifax the biggest reductions are to product transfer and further advance rates, which will drop by up to 30 bps tomorrow.

Selected first-time buyer and home mover deals will also fall by 11 bps.

But the lender is increasing rates on 1.5 year remortgage deals by up to 7 basis points. 

Meanwhile, Barclays has reduced rates on scores of residential deals for both purchase and remortgage today.

Among the biggest price drops, the rate on an 85% loan-to-value two-year fixed for purchase has come down by 25bps from 5.04% to 4.79% with a £899 fee.

It has cut the zero-fee equivalent product at the same LTV from 5.23% to 4.99%.

Other major reductions include a five-year fixed rate Springboard mortgage with no fee, which has come down from 5.52% to 5.32% at 95% LTV.

At Leeds Building Society, new first-time buyer products will be introduced tomorrow and selected residential fixed rates reduced by up to 15bps.

However, some buy-to-let, portfolio buy-to-let, shared ownership and houses in multiple occupation rates will increase.

The lender is also increasing and withdrawing certain rates for First Homes scheme, holiday let, shared equity and Help to Buy borrowers.

Its current range will be available until midnight tonight.

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