Two-Year Remortgage Deals Back at Halifax, Rates Overhauled

Halifax has confirmed the re-introduction of its popular two-year remortgage product, while at the same time outlining a series of overhauls to several major remortgage deals.

Customers remortgaging with Halifax now have a total of three fee options to choose from at four LTV (loan-to-value) levels, with loans available for up to 85% of the total value of the property.

Remortgage options will now be available with fee options of £1,500, £999, or no fee at all. The Halifax confirmed that only remortgage loans of £250,000 or more will be available with the highest fee option.

Halifax confirmed that remortgage rates will vary from 1.2% up to a maximum of 60% loan to value with the £1,499 fee option through to 2.88% up to a maximum of 85% loan to value with no fee payable.

Additional interest rate increases have been applied to the lender’s five-year and three-year remortgage deals: up to 0.28% with some loans. There have also been reductions of up to 0.14% elsewhere.

Further advance rates and product transfer rates have been reduced by up to 0.52%; other products have been increased by up to 0.22%.

BM Solutions

At the same time, BM Solutions, a Lloyds Banking Group company, has announced alterations to its own five-year and two-year further advance and product transfer rates.

However, the bank stopped short of confirming the extent of the interest rate increases in its statement.