Mortgage Next launches trackers funded by Halifax

The new range offers mortgages for first-time buyers, homebuyers and those remortgaging, all tracked until 30th November 2005. First-time buyers qualify for £250 cashback and a refund of up to £435 when using a Halifax valuation report, and the rate they will pay is 4.40%, based on current rates. Remortgage customers qualify for a free property assessment and Halifax will also pay their legal fees. The rate they will pay is 4.50% on an LTV up to 80% or 4.65 on an LTV up to 95% - both are based on current rates. Homebuyers pay 4.50% based on current rates. There is no arrangement fee for any of the mortgages in the new range, and repayment fees are 3% to 31/10/2003, 2% to 31/10/2004 and 1% to 31/10/2005.

Marketing director at Mortgage Next, Justine Tomlinson, commented: “This move by Halifax to offer competitive rates through Mortgage Next shows their commitment to the intermediary market, and enables Mortgage Next’s members to really add value to their customers.”