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Halifax changes its mortgage deals

12/06/2008

Halifax is to reduce the cost of some of its deals, while giving fixed rates to customers without a sizeable deposit.

A spokeswoman from Halifax commented: "As a major mortgage provider, Halifax continues to focus on delivering good value products and rewarding customers for prudency,"

She had suggested that rates on most deals would come down by an average of 0.35 percent, leaving two fixed rate products to increase by 0.10 percent.

A number of mortgage products have been withdrawn from the UK market since the credit crunch took place towards the start of 2008. Lenders have tried there best to offer cheap fixed-rate deals. However, recently, lenders have lowered rates on a range of products simply because they are trying there best to compete with the entire UK market.

Finally, Barclays' lending, the Woolwich and Nationwide, have all increased their fixed rates by nearly 0.3 percent, leaving Bradford & Bingley to raise its deals by only 0.55 percent.

 


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