Halifax Intermediaries introduces a 10-year purchase loan at under 4%, and will cut rates across its homebuyer range by up to 36 basis points from tomorrow, 15 February.  

The broker-only arm of the mutual says the changes affect its first-time buyer, new build, large loans and affordable housing – shared equity/shared ownership and equivalent green home products.  

Highlights include:  

• A 10-year purchase fixed-rate repayment and interest-only deal at up to 60% loan to value, with a £999 fee, at 3.99%, down by 36bps. Minimum loan £25,000, Maximum loan £1m  
• And a 10-year purchase fixed-rate repayment and interest-only offer at up to 75% LTV, with a £999 fee, at 4.04%, also down by 36bps. Minimum loan £25,000, Maximum loan £1m  

Halifax Intermediaries and Scottish Widows Bank head Amanda Bryden says: “On 15 February, we’re making cuts of up to 36bps across our fixed-rate homebuyer mortgage range.   

“For those homebuyers looking for the security of a longer term fixed-rate mortgage, the rate on a 10-year deal is now down to as low as 3.99%.”  

Last week, HSBC reintroduced a five-year 60% LTV remortgage at 3.99%, for the first time since last September.    

A day later, Virgin Money launched 65-90% LTV five-year fixed-rates deals, with a £1,495 fee from 3.99%.  

These moves follow late September’s tax-cutting mini-Budget by then Chancellor Kwasi Kwarteng, which unsettled markets and lifted prices.   

These cuts were largely reversed by current Chancellor Jeremy Hunt in October and his November Autumn Statement. Prices have remained elevated, but have begun to fall in recent weeks.  

Halifax Intermediaries points out that to secure existing product codes, brokers should submit applications in full by 8pm on 14 February.   

The firm says that the product search tool on its website will be updated by 4.30pm on 14 February. Its product rate guide has been updated.  

It adds that its online and sourcing systems will be updated by 15 February.