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Halifax offers cut-rate mortgages

In a surprising move Halifax has today offered new mortgage customers a 0.3% reduction on their mortgage rates up until the end of 2011 if they apply for a mortgage between 6 September and 3 October this year. Those who also hold a current account with the Halifax will receive a further 0.2% off their mortgage rates and this cut rate offer is available on all Halifax mortgage deals.

It is unclear exactly why Halifax have announced this lucrative deal although when you consider the potential choppy waters ahead in the UK property market it may well be a means of improving customer loyalty. Either way, the Halifax have certainly made a splash in the UK mortgage arena and others will no doubt be tempted or perhaps pressurised to follow.

This is the latest in a number mortgage discount deals available across the board with mortgage lenders in the UK positioning themselves for the eventual recovery in the UK market. They may well experience volatility and uncertainty in the short to medium term but ultimately when the market does settle down there will be opportunities aplenty. We may well also see a number of people remortgaging to take advantage of the deals on offer.

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