Halifax fixed-rate mortgages cut

The UK's largest lender, Halifax, has reduced rates by up to 0.40 per cent with effect from today.

The move comes in response to falling interest rates.

Tim Anson, head of mortgage products at Halifax, said: "The cost of fixed-rate mortgages has fallen considerably over recent months in response to the money markets cutting the cost of borrowing.

"For borrowers who want the peace of mind and certainty of payment that a fixed rate mortgage offers, some of these deals will be very tempting indeed."

Halifax is offering first time buyers a choice of incentives designed to cut the cost of buying a home.

Customers can choose from a low variable or fixed rate mortgage with extras including £250 cashback, refund of the cost of Halifax Valuation Report and payment of conveyancing fees.