The product is available up to 97 per cent loan-to-value (LTV)and borrowers will receive £1000 cash back. There is a fee of £299.
Halifax has also reduced the rate on its 10-year fixed rate homemover products. The rates have dropped from 5.85 per cent to 5.49 per cent, with a fee of £499, and 5.89 per cent to 5.69 per cent, with no fee. Both products are avaliable up to 97 per cent LTV and is available for both new and existing customers moving house.
Mark Heaton, head of mortgages at Halifax, said: "We continually review our products to ensure we are offering the best possible rates to our customers. The first-time buyer product provides a good value option for people looking to get on the property ladder whilst our 10-year fixed homemover product offers borrowers long-term security by assisting with their financial planning, now with an even better rate."
