Has Halifax updated its fixed rate mortgage products to align with BOE's 0.1% base rate?

dush_yant

Hi all,

Halifax are only dealing with urgent queries during this covid-19 outbreak so I won't call them and waste their ressources. Hoping someone here will have the answer to my query:

Halifax have updated their fixed rate mortgage products today with lower rates, but it is unclear whether the new rates from today are aligned with the first BOE base rate drop to 0.25% on 11 March or aligned with the second base rate drop to 0.1% on 19 March?

Reading https://www.moneysavingexpert.com/news/2020/03/base-rate-cut-to-0-1-/ the article does not mention updates to fixed rate mortgages, only for trackers.

And from an announcement on the Halifax intermediary website (I could not find an equivalent announcement on Halifax's public website), it does not specify which BOE rate is followed by the new products introduced today - https://www.halifax-intermediaries.co.uk/placing_business/news/articles/product_changes_effective_from_wednesday_1st_April_2020.aspx

Many thanks in advance.

kingstreet

Neither. Fixed rates are based on money market swap rates which don't have a direct link with BOE base rate.