Halifax has launched a direct-only two-year fixed rate at 2.44 per cent up to 60 per cent loan-to-value.
It is exclusively for remortgage customers and has a £1,995 fee.
Halifax mortgage director Stephen Noakes says: “This rate should prove very tempting to those customers looking to remortgage. Lower fixed rates really help to minimise customers’ monthly payments, and this is currently the lowest in the market.
“Halifax is working hard to challenge and to kick-start the remortgage market, and this product should really help those who wish to bring down their monthly payments.”
The lender is also reducing its two-year fixed remortgage rates by 0.1 per cent for 0-60 per cent LTV and 75-80 per cent LTV products and its two-year fixed remortgage products between 60-75 per cent by 0.05 per cent.
It is also reducing its two-year trackers up to 80 per cent LTV by 0.1 per cent and its two-year fixed homemover and first-time buyer products between 60-75 per cent by 0.15 per cent.