Halifax Intermediaries has announced it will be lowering fixed rates from tomorrow (17 April).

As part of the reductions, home mover and first-time buyer fixed rates will be lowered by as much as 0.35%.

Halifax Intermediaries and Scottish Widows Bank head Amanda Bryden comments: “Swap rates, which play a significant role in the price of mortgages, continue to be volatile, but while they are falling, we are taking the opportunity to pass that on to homebuyers.”

Also commenting on the Halifax Intermediaries reductions, Trinity Financial product and communications director Aaron Strutt says: “The big lenders really are lowering their rates now and the price cuts are getting more momentum. With HSBC, Santander, and now Halifax making some pretty chunky rate cuts NatWest and Nationwide may well follow soon.”

“Santander is giving Nationwide a bit more competition with its latest rate changes and it now has two-year fixes from 4.7%, three-year fixes from 4.78% and five-year rates from 4.76%.”

“None of these really get anywhere near the tracker rate Halifax is still offering at 3.96% even if it does have a £1499 fee. These rate changes will come as a relief for many borrowers keen to get on the property ladder soon.”

Meanwhile, Leeds Building Society is reducing residential mortgage rates by up to 0.08% from tomorrow.

The new rates include the residential two-year fixed rate up to and including 31 July 2028 at 5.16%, down from 5.24%.

This is available up to 75% loan-to-value (LTV) and comes with free standard valuation and fees assisted in-house legal service for remortgages.

Leeds Building Society senior product and pricing manager Jonathan Thompson notes: “We’ve implemented these changes to give brokers, buyers, and homeowners greater choice. As always, we’re keeping our range of products under review in support of new and existing members.”