The housing market has certainly been exciting in the last few years with an array of government incentives coupled with lenders offering low rates to help home buyers. This week saw Halifax launch an incredible ultra-low two-year fixed rate mortgage deal priced at 0.83%. This record-breaking rate is a significant drop from the previous rate of 1.04% and provides a great reason for homeowners to look at a new home.
This move will surely be followed by other lenders in an attempt to keep the buoyant UK housing market moving whilst encouraging new buyers into the market. This week saw independent
commentators suggest the UK housing market is beginning to slow whilst house prices continue to reach an all time high. This is largely due to Chancellor Rishi Sunak’s decision to remove the burden of stamp duty on house purchases in England and Northern Ireland up to the value of £500,000. This will revert to the £125,000 threshold in October 2021 and these significant rate cuts are clearly there to combat these changes and keep the housing market moving.
There are conditions and fee’s which you need to consider when looking at such a offer and this is why we would always recommend speaking to a trusted mortgage broker to see if this incredible offer of 0.83% from Halifax is viable for you or if there is an alternative product which better suits your needs. Our friendly, knowledgeable team have access to the entire market and are on hand now to assist with any questions or assistance you may need. Call us today on 0333 443 5869