HALIFAX, UNITED KINGDOM -- (Marketwire) -- 02/27/13 -- Halifax Intermediaries has cut rates on its selected 2 year products in the large loan(i), new build and affordable housing product ranges being offered to first time buyers, homemovers and remortgage customers.

Available from 1st February, selected rates have been reduced by up to 0.50%.

Some of the changes include:

New Build and affordable housing mortgages

- 90% LTV fixed rate affordable housing mortgage for Homemovers/First Time Buyers is reduced by 0.50% to 5.99% with a GBP 999 fee

- 80% LTV 2 year New Build fixed rate for Homemovers and First Time Buyers reduced by 0.20% to 4.19% with a GBP 999 fee or 4.59% with no fee.

- 80% Affordable Housing fixed rate for Homemovers/First Time Buyers reduced by 0.20% to 4.49% with a GBP 999 fee

- 85% LTV Affordable Housing rates for remortgage customers reduced by 0.20% to 5.09% with a GBP 999 fee

Large loans mortgages (From GBP 1,000,000)

- 80% LTV 2 year fixed rate for house purchases has been reduced by 0.20% to 4.49% with a GBP 999 fee

- 80% LTV 2 year tracker rate for house purchases has been reduced by 0.20% to 4.19% with a GBP 999 fee

- 80% LTV 2 year fixed rate for remortgage customers has been reduced by 0.20% to 4.54% with a GBP 999 fee

Ian Wilson, head of sales at Halifax Intermediaries, said:

"We announced a succession of rate changes to our core mortgage range last week. We are pleased to be able to continue this. Affordable housing and shared ownerships help thousands of first time buyers and key workers to get on to the property ladder and both lenders and brokers need to work together to help educate clients on the options available to them.

"As one of the leading lenders in the large loans mortgage market, these rate cuts further support our commitment to brokers and their clients and allow them to benefit from the enhanced service provided by our Premier Mortgage Team".

Notes to the editor:

(i)Large loans: Mortgage applications between GBP 1,000,000 and GBP 2,000,000