Home Loan Rates Cut Once Again

Published: 8/17/2010

One of the biggest mortgage providers in the UK, the Halifax, has announced more interest rate reductions on several of its home loan products.

The average mortgage rate reduction made by the Halifax is 0.25 percent, with most of its main tracker and fixed rate products enjoying this cut. Potential customers should be aware that they need to put down a deposit of at least 25 percent in order to receive this lower rate.

A Halifax spokesman explained that they were passing on recent reductions in the cost of borrowing that the banks charge each other, feeling it is in the interest of the market to offer the very best possible rate whenever possible.