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Halifax Introduces Competitive Sub-5% Five-Year Mortgage Rates

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    In a significant move for homebuyers, Halifax Intermediaries has announced the launch of its new range of sub-5% five-year mortgage products, effective from November 15. This development marks a notable shift in the mortgage landscape, offering more affordable options for a diverse range of buyers, including first-time purchasers, those interested in new builds, and participants in affordable housing schemes.

    The new offerings by Halifax are set to start as low as 4.53%, representing a substantial reduction in rates by up to 46 basis points. This adjustment also extends to their two-year loan products, amplifying the appeal to a broader segment of the housing market.

    Highlighting the new rates, five-year fixed rate mortages with up to 60% loan-to-value (LTV) are now available at 4.53%, accompanied by a fee of £999, marking a 20 basis point decrease. For loans up to 75% LTV, rates have been set at 4.63% with the same fee, reduced by 19 basis points. In a customer-centric move, Halifax also offers a no-fee option at 4.64% for the same LTV, reduced by 20 basis points.

    Halifax 2-year fixed-rate mortgage products have also seen notable reductions. Loans up to 60% LTV are now at 4.97% with a £999 fee, reduced by 17 basis points. For higher LTVs, between 90% and 95%, the rates are now 5.85%, also with a £999 fee, showing a significant reduction of 46 basis points. A no-fee option for two-year loans up to 60% LTV is available at 5.23%, down by 17 basis points.

    Seeing Halifax introduce sub-5% five-year interest rates on mortgages is a significant step forward in the mortgage industry for 2024. It aligns perfectly with our ethos at YesCanDo Money, where we strive to make mortgages more accessible and stress-free for our clients. These competitive rates, especially for first-time buyers and affordable housing schemes, echo our commitment to helping individuals achieve their homeownership dreams. – Steve Roberts (Founder & CEO of YesCanDo Money)

    This announcement follows on the heels of Nationwide Building Society, which recently became one of the first major lenders to offer sub-5% five-year fixed-rate products, starting at 4.64%.

    Halifax’s new rates reflect a growing trend in the mortgage industry towards more competitive and accessible lending options, signaling a positive shift for homebuyers in the current economic climate.

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    Steve Roberts (MAQ)
    Steve Roberts (MAQ)

    Stephen Roberts MAQ is the founder of YesCanDo Money, one of the UK's largest no-fee mortgage brokers. With more than 30 years of hands-on experience in the mortgage industry, Steve really knows the ins and outs of mortgages. He's become a trusted expert and authority in the field, thanks to his deep understanding of the mortgage landscape. Speak to Steve or a member of his knowledgeable team today by completing our contact form:

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