This morning Halifax has unveiled significant changes to its mortgage product range, leaving homebuyers and homeowners alike with plenty to celebrate as they step into the new year. The alterations, spanning Homebuyer, Remortgage, Product Transfer, and Further Advance products, showcase Halifax’s commitment to providing competitive and flexible mortgage solutions for new mortgage customers in 2024.
Homebuyer Products Get a Boost: Extended Deadlines for Completion in 2024
For those diving into the property market, Halifax has extended the completion dates for its Homebuyer products, including first-time buyer, New Build, Large Loans, and Affordable Housing – Shared Equity/Shared Ownership. The new extension of one month aims to ease the pressure on buyers in the new year, allowing for smoother transactions and additional time for necessary arrangements.
Remortgage Products Experience Rate Reductions
Halifax is turning heads in the mortgage industry this morning, being the first lender in the new year with substantial reductions in rates for its Remortgage products. For 2, 5, and 10-year fixed rates, customers can now benefit from reductions of up to 0.83%. This move is set to make homeownership more affordable and enticing for those considering a switch in 2024. Additionally, the complete by dates for these products have also been extended by one month, providing borrowers with added flexibility.
Product Transfer and Further Advance Products Receive Rate Cuts
Existing Halifax mortgage customers will be pleased to hear about the rate reductions on Product Transfer and Further Advance products. With reductions of up to 0.92%, homeowners looking to make changes or enhancements to their existing mortgages can now enjoy more attractive terms. Halifax has also extended end and complete by dates for these products, offering clients an extended window to take advantage of these favourable rates.
A Green Touch to Mortgage Offerings
In a nod to environmental consciousness, Halifax has extended its changes to include green mortgage products. This move aligns with the growing trend of sustainable and eco-friendly living. As more individuals seek energy-efficient and environmentally responsible housing options, Halifax’s inclusion of Green Home products demonstrates a commitment to meeting the evolving needs of modern homeowners.
What It Means for You
Whether you are a first-time buyer, an existing homeowner looking to remortgage, or a Halifax customer seeking better terms, these changes signal a positive start to the year. The extended completion dates provide breathing room for those navigating the complexities of property transactions, while the rate reductions make homeownership and mortgage adjustments more accessible and affordable.
Speak To a Mortgage Broker in 2024
Halifax’s bold steps into 2024 with these mortgage changes reflect the bank’s responsiveness to market dynamics and a dedication to meeting the diverse needs of its customer base. As the mortgage landscape continues to evolve, Halifax’s commitment to flexibility and affordability positions them as a key player in shaping the future of home financing. 2024 is shaping up to be a great year for mortgages and property. Start the year of right by speaking to a mortgage broker in 2024. Call or email our team at Oportfolio mortgages today. We’re here to help you.
