Halifax drops mortgage rates

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Halifax drops mortgage rates

Halifax has cut its mortgage rates for the eighth time in 2008, it has emerged, with a reduction of up to 0.15 per cent planned for 20 of the lender's 45 fixed-rate products.

This change means that a five-year fixed-rate mortgage product from Halifax with a former rate of 6.49 per cent now has a rate of 6.34 per cent.

Recently, Halifax introduced a stepped tracker rate deal, with the fees on all its tracker-rate mortgage products reduced by £200.

In addition, consumers who are switching to a Halifax tracker mortgage from another lender may benefit as the bank has pledged to cover the cost of legal fees as part of the Halifax Remortgage Service.

Meanwhile, a total of four out of six buy-to-let products from the Bank of Scotland have been reduced by up to 0.25 per cent, while three out of 11 total Bank of Scotland self-certification tracker mortgage products are set to reduce by 0.10 per cent.
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