Halifax Intermediaries will cut rates on selected two- and five-year fixed-rate homebuyer products on Monday (16 October).  

The reductions include a five-year 60% loan-to-value deal at 4.73%, with a £999 fee.  

And a five-year 75% LTV offer at 4.82%, with a £1,499 fee.   

Its cuts are available to first-time buyers, new builds, large loans and affordable housing – shared equity/shared ownership and equivalent green home products.   

Lenders have cut the price of their home loans after the Bank of England Monetary Policy Committee held the base rate at 5.25% last month, in a narrow 5-to-4 vote, following its previous rise on 3 August.       

This has caused firms to bet that the BoE is nearing the end of its rate-raising cycle, which saw the base rate climb 14 times in a row from December 2021.    

John Charcol mortgage technical manager Nicholas Mendes says: “Halifax has shown real intent with these latest fixed-rate reductions, with 4.73% for a five-year fix a real head turner.  

“This is great news and shows that the market is slowly edging closer to 4.5% hopefully by the end of October.”  

Halifax adds that its product search tool on its website for intermediaries will be updated by 4.30pm on 14 October.  

While Halifax Intermediaries online and other sourcing systems will be updated by 16 October.