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Halifax revitalises fixed-rate market with competitive deal

Halifax has finally stirred up interest in the fixed-rate mortgage market after several months of apathy, says Hamptons International Mortgages director Jonathan Cornell.

Halifax is offering a two-year fixed rate at 4.29 per cent up to 90 per cent loan to value, which is now available for purchases as well as remortgages. The deal is fee-free.

Cornell says Halifax was previously unwilling to capitalise on its size in the residential market by being overtly competitive but is predicting that the rest of the market will now have to respond aggressively.

Bradford & Bingley estimates that around 800,000 borrowers are coming to the end of cheap fixed-rate deals. Newcastle, Alliance & Leicester and Derbyshire have all followed Halifax by dropping two-year fixed rates over the last two weeks.

Cornell says: “This is the most interesting Halifax product for the past two years. Halifax’s rate profile has been boringly apathetic. Now everyone else will have to respond. It is sure to have a big impact on the residential market.”

Savills Private Finance director Simon Jones says: “Many borrowers may be wondering whether they should hold on for an even better deal but these rates are competitive and far better than the variable rate.”


GAM appoints head of compliance from Deutsche

GAM has appointmed Scott Sullivan as group head of legal and compliance.Prior to joining GAM, Mr Sullivan spent five years within Deutsche Bank’s London legal department, where, most recently, he was responsible for the legal support of Deutsche Bank’s asset management, private wealth management and offshore businesses. Sullivan qualified as a barrister in England and […]

Threadneedle chief in move to Henderson

Henderson has poached former head of UK equities at Threadneedle Graham Kitchen to head its thema- tic team. Kitchen has been tasked with improving equity performance at Threadneedle for the past nine months. At Henderson, he will report to head of equities Andrew Formica who has been with the firm for 10 months. Kitchen also […]

Hemisphere broadens base

Hemisphere Property Management has made its Hemisphere property fund available to IFAs to broaden the fund’s investor base.

Richard Mayland joins board of Newcastle BS

Richard Mayland, a former partner with PricewaterhouseCoopers, has joined the board of Newcastle Building Society as a non-executive director.Maylad became a partner with PWC in Newcastle in 1976 managing the audit practice in 1999. He has also led a financial services unit for PWC specialising in retail banking and insurance.Since last year he has worked […]

Artemis Global Income: favouring Europe over the US

With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]


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