Halifax begins New Year with new ‘no fee’ first-time buyer mortgage
Halifax has launched a new two year, fee free, fixed rate first time buyer mortgage at 5.99%.
The lender – which launched a number of first-time buyer initiatives in 2011, including its First-Time Buyer Pledge – has specifically designed the product to help first-time buyers in 2012 by paying the fees on their mortgage, as well as offering cashback of £500 to help cover other costs of buying their first home.
Today's first time buyer typically pays a product fee of around £995, but Halifax is not only waiving that fee but offering £500 cashback, which can be used to pay those addition home-buying costs, including conveyancing and valuation
Stephen Noakes, Mortgages Director at Halifax, comments: "Housing affordability is at an eight-year high for first-time buyers at the moment, largely as a consequence of the fall in house prices since 2007. However, buying a house has always been an expensive process and for first-time buyers every bit of help counts. By waiving the fees on this product, and offering £500 cashback, we can give first-time buyers the chance to put that money towards supplementing their deposit or purchase some essentials for their new home”.