Halifax will make its second residential price cut of the year tomorrow (11 January), when fixed-rate home loans are reduced by a further 45 basis points.  

While today the lender launches multiple mortgage products in its product transfer window, following broker feedback.  

Highlights of the firm’s two- and five-year reductions that cover first-time buyers, new build and large loan products, include:  

• Two-year purchase fixes up to 85% loan to value, at 4.57%, with a £999 fee, down by 45bps  
• Two-year purchase fixes up to 85% LTV, at 4.27%, with a £999 fee, down by 35bps  
• Five-year purchase fixes up to 85% LTV, at 4.18%, with a £999 fee, down by 39bps  

The move comes after the lender cut home loans by up to 83bps last Tuesday (2 January).  

John Charcol head of marketing Nicholas Mendes says: “This is Halifax’s second reprice this year, following a similar reduction last week.

“Following moves by Barclays and Santander over the past few days, despite the uptick in swap rates Halifax still feels there is ground to pass on reductions to win more business.  

“Lenders certainly have enough appetite for volume, even at skinny margins, to continue to battle and hold on to their current low rates longest.  

“It’s been a while since we’ve seen lenders prepared to sacrifice margin for volume, but this is all welcomed news for purchases and those coming to the end of their fixed deal.”  

Halifax head of intermediaries and Scottish Widows Bank Amanda Bryden adds: “There is increasing confidence in the market and rates are falling. These cuts will be a boost to anyone looking to get on or move up the housing ladder.”  

Meanwhile, the lender introduces multiple mortgage products in its product transfer window today.  

It says the move will improve the home loan “process for customers who have two separate products both ending within the six-month product transfer future dating window”.    

The new system will allow brokers the option to select the same new product for both product transfers, which means the bank “will honour the product secured on the first product transfer for the second product transfer”.  

The firm tells brokers: “The first product transfer application should be keyed online as normal, but you will need to call for us to key the same product for the second product transfer.”