View more on these topics

Halifax to cut rates by average of 0.15%

Halifax is cutting some mortgage rates by an average of 15 basis points.

The cuts will be made in both the broker and branch based business but is only for existing customers.

A spokesman says: “Our price reductions, for existing customers only, are on both our intermediary and branch based ranges. These price reductions reflect a recent, modest, reduction in the still very high cost of Libor related funding.

“This move ensures that, as always, there is a competitively priced mortgage range available for our customers coming to the end of their mortgage.”

The cuts will come into effect from 21 May.

For product transfer/further advance, fixed rates will be reduced by 0.20 per cent on 3 and 5 year £1,499 fee products. Rates will be reduced by 0.10 per cent on the remaining 3 and 5 year products.

Tracker rates will be reduced by 0.20 per cent on 3 year products. It has also opened up the loan availability to £2 million on the 0-75 per cent loan to value products.

The lender has reduced its Retirement Home Plan fixed rates by 0.20 per cent.


Pada adds three to board

The Personal Accounts Delivery Authority has appointed Alison Wright, Paul Hewitt and Chris Willford as non-executive directors.

Changing fortunes

This week Credit Suisse appointed its third head of global equities inside two years as Kim Goodwin quit the firm to return to the US in a consultancy role.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm