Halifax has launched a 1.5 year fixed rate product for remortgages, while TSB has made various rate changes.

Halifax’s new product rates start at 4.37% and all include £250 cashback.

Examples of the new product include:

• Maximum of 60% loan-to-value (LTV), with a rate of 4.37% and a fee of £1,499 for loans between £25,000 and £2m.
• Maximum of 85% LTV, with a rate of 5.25% and a fee of £1,499 for loans between £25,000 and £2m.
• Maximum of 90% LTV, with a rate of 5.63% and a fee of £1,499 for loans between £25,000 and £750,000.

Halifax Intermediaries & Scottish Widows Bank head Amanda Bryden says: “Brokers have told us that their clients are keen to see more shorter-term products. With this latest launch, we’re delivering the certainty of fixed payments balanced with a term that offers more flexibility.”

John Charcol mortgage technical manager Nicholas Mendes describes the move by Halifax as “interesting”.

Mendes says: “Not only offers clients a unique balance of stability and flexibility but also enhances their competitive edge in the remortgaging market. With most competitors providing a two-year fixed as the shortest term, this innovative product gives Halifax an edge in attracting remortgaging clients.”

“This product allows clients to lock in a fixed rate while keeping their options open for a review slightly earlier than the standard two-year term, making it particularly appealing in the current uncertain rate environment. “

Meanwhile, TSB has made multiple rate changes across different ranges.

For residential, TSB is increasing rates on its five-year fixed first-time buyer and home mover products between 90% and 95% LTV by 0.15%.

The lender’s buy-to-let (BTL) products will be cut by 0.10% on two-year fixed house purchase and remortgage 0% to 60% LTV products and five-year fixed remortgage 0% to 60% LTV products.

Meanwhile, TSB’s product transfer residential two-year fixed 80% to 85% LTV has gone down by up to 0.15% while its BTL two- and five-year fixed 0% to 75% LTV has gone up by as much as 0.30%.

Additional borrowing rates have been increased by up to 0.30% for BTL two- and five-year fixes.