Halifax has announced it will extend its new seven-year mortgage deal to all NewBuy customers.
The agreement, which does not include a product fee, will be available through the lender’s branch network and selected intermediaries.
Aimed at first-time buyers and home movers, the home loan is at a 5.89 per cent fixed rate for seven years at up to 95 per cent loan-to-value, offers £500 cashback and includes no mortgage account fee.
Stephen Noakes, mortgage director at Halifax, noted: “As the leading lender in the new-build market, we’re pleased to be able to offer this longer term product to all of our NewBuy customers.”
Mr Noakes explained those who opt for the deal can benefit from the certainty provided by set monthly payments over a longer period of time.
He added the move will not only prove advantageous for people looking to get their foot on the first rung of the property ladder, but should also provide a welcome boost to housing supply and the NewBuy scheme – a mortgage indemnity initiative backed by the government.
