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Among Halifax’s new deals is a two-year fixed rate for purchase at 5.64percent (60percent LTV) with a 999 fee and a five-year fixed rate equivalent at 5.15percent. The bank has also cut rates for BTL and on product transfer deals . The bank’s new rates include reductions to product transfer deals and rates for additional borrowing. The move comes hot on the heels of the launch of a five-year fixed rate deal for remortgage by HSBC subsidiary First Direct at 4.92percent. Nationwide also has a five-year fixed rate for remortgage (also 60percent LTV) at 4.89percent with a 999 fee.

First Direct’s 10-year fixed rate has seen the biggest cut of 1.05 percentage points and is now at 4.04percent (60percent LTV) with a 490 fee. The two-year fixed rate starts at 4.49percent (60percent LTV), also with a 490 fee. The bank’s mortgages are available to all new and existing customers. Virgin’s two-year fixed rate for residential purchase customers at 75percent LTV is 4.78percent – 0.15 percentage points higher than the old product.

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The bank is offering a five-year fixed rate for home purchase from 4.64percent and equivalent deals for remortgage from 4.83percent, writes Jo Thornhill. NatWestis cutting product switcher rates, available through brokers, by up to 0.26 percentage points on residential deals and up to 0.4 percentage points on buy-to-let deals. It is offering two-year fixed rates from 4.98percent and five-year fixed rates from 4.79percent (60percent LTV) with a 995 fee. Nationwide building societyhas reduced fixed rates on selected product switcher deals and further advances by up to 0.31 percentage points. It is offering two-year fixed rates from 4.82percent (60percent LTV) with a 999 fee and five-year fixed rates at 5.3percent (95percent LTV) with a 999 fee.

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