Make an enquiry
Buying

Mortgage Rate Update - Hot Off The Press

If you are looking for some positive news to kick the week off with, here it is!

What’s happened?

The people at Halifax banking have made the boldest move seen across the Lending Market all year and are targeting developers November/December completions.

On the 5th November 2018, they have released the following rates on their Help to Buy products, for new homes completing by 31st December 2018:

2 Year Fixed Rate at 1.39%

5 Year Fixed Rate at 1.85%

These rates blow the existing market leaders (at 1.64% 2 Year Fixed and 2.14% 5 Year Fixed) out of the water, but might not be around for long, so don’t miss out!

What does that look like for your Customer?

On a house with a purchase price of £200,000, it looks like this:

2 Year Fixed Rates

Monthly repayments on the £150,000 mortgage amount are just £593 per month (over a 25 year term).

Take the purchase price up to £300,000 and the Customer’s repayments on their £225,000 mortgage amount are only £888 per month (over a 25 year term).

5 Year Fixed Rates

Monthly repayments on the £150,000 mortgage amount are just £625 per month (over a 25 year term).

Take the purchase price up to £300,000 and the Customer’s repayments on their £225,000 mortgage amount are £937 per month (over a 25 year term).

Who can access these rates?

It’s simple! Any Help to Buy Purchaser who meets Halifax criteria and is buying a property that will complete in November or December 2018.

How long will this last for?

There is only limited funding, so not long! It could be used in a week or a month, so don’t miss out.

If you would like any more information please do not hesitate to speak with us or your NHMH Account Manager.

Wishing you all a very successful week.