2 year fixed rate mortgages from Halifax are now priced at 1.84% to the end of February 2018. Available for house purchase customers only when borrowing up to £1m at 60% loan to value (LTV), these now come with a £790 fee which can be added to the advance of the mortgage. Halifax’s latest fixed rate product is a flexible deal which also allows overpayments of up to 10% of the outstanding balance as well as payment holidays.
Following this, Halifax released a broker exclusive 2 year fixed rate of 1.49% to the end of March 2018, up to 60% LTV. The only difference aside from the extra month, is the £999 fee – a small price to pay for a 0.35% lower rate.
Leeds, the Post Office, Accord and Skipton are also lenders offering 2 year fixed rates up 1.5% up to 60 or 65% LTV with a fee under £1,000 – and an additional free valuation in some cases.
Norwich and Peterborough Building Society has equally entered the best buy table this week, with a new 3 year fixed 2.3% rate ISA now on offer – a rate also being offered by Chelsea Building Society. Both accounts can be opened with a minimum of £100 and allow early withdrawal, subject to 180 days loss of interest. Transfers are also accepted.
Saffron Building Society is now offering a first time buyer only 95% LTV 3 year fixed rate. The rate comes in at 3.97% which will be fixed until the end of May 2019, with no arrangement fee and an early repayment charge of 3% within the fixed rate period (however, the usual option to repay up to 10% per annum free applies.)
This means that even those with a maximum loan size of £500,000 in London may still be able to benefit from this deal. It also does not come under the help to buy scheme meaning that restrictions applicable to mortgages offered through the scheme will not apply.