Halifax has thrown a lifeline to borrowers, rolling out rate cuts set to take effect from tomorrow, Friday 7th March. The lender’s latest move trims selected remortgage fixed rates by up to 0.25%, while product transfer and further advance rates drop by as much as 0.31%.
With spring on the horizon and the housing market stirring, The London Property News tapped brokers to weigh in on what this means for homeowners and buyers.
The mood among experts is upbeat. Katy Eatenton, Mortgage & Protection Specialist at Lifetime Wealth Management, cheers the shift:
“Rates are once again moving in the right direction. Hats off to the Halifax for these cuts as for borrowers, even small reductions can result in big savings. And in such a tough economic climate, even the smallest of savings can make a difference.” For those feeling the pinch, Halifax’s timing couldn’t be better.
Tony Castle, Managing Director at PFG Mortgages, sees it as a seasonal boost:
“Halifax has dropped mortgage rates just in time for spring, giving homebuyers a much-needed break as the housing market heats up. With lower rates, the season of new beginnings just got a little more affordable—so it’s the perfect time to act before this opportunity slips away.” His take suggests a window of opportunity that savvy buyers won’t want to miss.
David Sterling, Director at Mint Mortgages & Protection, digs into the details:
“Halifax’s move to reduce rates on selected remortgage, product transfer, and further advance products offers much-needed relief to homeowners and those looking to remortgage. With rates slashed by up to 0.31%, Halifax is helping borrowers better manage their mortgage costs in an increasingly competitive market.” Looking ahead, he adds a nudge: “As further rate cuts are expected throughout 2025, now is the perfect time for borrowers to carefully assess their options and secure the most favourable rates. For those seeking expert guidance, consulting a broker can ensure you make the best decision for your financial future.”
For London’s property watchers, Halifax’s cuts signal a chance to stretch budgets further—whether remortgaging, trading up, or diving into the market.
With brokers tipping more reductions to come, the message is clear: strike now, and those pennies saved could add up to pounds.