Halifax Introduces “No-Fee” Mortgage Deal for First-time Buyers

As it was announced last week, UK first-time buyers were granted a great opportunity to get on the property ladder by Halifax, one of the leading mortgage lenders in the country.

The lender recently launched a 2-year fixed mortgage deal available at 5.79% and absolutely no fees (product, conveyancing, valuation, and set up).

This means that first-time buyers in Great Britain who struggle to save for the deposit can now avoid paying almost £2,000.

The loan-to-value ratio available for this deal is 90%.

Commenting on the launch of the new product, Mr. Noakes of Halifax, said that "first-time buyers are an important part of the housing market and whilst they are benefiting from the best monthly mortgage affordability in over a decade, buying a first home has always been an expensive process where every penny counts."

The move by Halifax follows its research of the housing market in Great Britain, which demonstrated that the proportion of homes in UK regions available to first-time buyers grew to 40% in 2010, up from 7% in 2007.

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