Relief for first-time buyers as Halifax cuts home loan rates for the third time this month

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Halifax has cut several of its mortgage loan rates for the third time this month.

Britain's biggest mortgage lender is reducing the cost of some fixed-rate products by up to 0.3 per cent from today, while rates on some tracker deals are coming down by 0.1 per cent.

A flurry of lenders have slashed their rates in recent days, prompting speculation that the costly effects of the credit crunch on mortgage offers have peaked.

Major players including Nationwide, Abbey, Cheltenham & Gloucester and Barclays' lending arm The Woolwich have all reduced the cost of their deals.

The move has prompted speculation that the trend for lenders to hike their rates as a result of the problems caused by the credit crunch may have peaked.

Halifax is reducing a total of 16 of its mortgage rates, with the biggest 0.3 per cent cut benefiting customers borrowing more than £500,000 through a fixed- rate loan.

In its core range, it is cutting the cost of three- and five-year fixes by between 0.1 per cent and 0.18 per cent, to give a new three-year fixed rate of 6.24 per cent for someone
with at least a 25 per cent deposit who paid a £1,499 arrangement fee.

The group has also launched a new 10-year fixed-rate deal at 6.29 per cent, and a number of mortgages for people borrowing more than £500,000.

Bank of Scotland, which is also part of the HBOS group, is reducing 29 of its products by up to 0.45per cent.