Halifax has increased the maximum loan amounts across its Affordable Housing and New Build ranges by up to 100%.
It has also reduced product rates across first-time buyer and homemover rates by up to 0.2 percentage points.
Key changes include:
Maximum loan amount increased on Shared Equity/Shared Ownership and New Build products:
- Shared Equity/Shared Ownership loan amount increased from £250,000 to £350,000
- New Build 80-85% LTV loan amount increased from £500,000 to £1,000,000
- New Build 85-90% LTV loan amount increased from £500,000 to £750,000
New rates include:
Two-year fixed rate and tracker products for first-time buyers and homemovers:
- 60-75% LTV Two-year fixed rate products have been reduced by 0.15 percentage points with rates from 1.99% (£1,995 fee)
Product Transfer Rate reduction:
- 0-60% LTV Two-year fixed rate products have been reduced by 0.2 percentage points with rates from 2.17% (No fee)
Craig McKinlay, mortgages director at Halifax, said: “Halifax is committed to providing competitive mortgages and great service to our customers. The reduction in rates and increases to our maximum loans for New Build and Affordable Housing ranges will enable us to continue to support first-time buyers and the new build market.”