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Halifax doubles margins on tracker mortgages

Britain’s biggest lender, Halifax, made an unpopular adjustment to its new tracker mortgage products.

Following the 1.5% rate cut from the Bank of England last week, UK lenders withdrew their tracker mortgage products.

Halifax has now joined Abbey and LloydsTSB in relaunching tracker deals, but has doubled the difference between the base rate and the interest rate charged to borrowers.

This comes as bad news to customers struggling to remortgage at a reasonable rate.

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One Response to “Halifax doubles margins on tracker mortgages”

  1. Sarah G Says:
    November 17th, 2008 at 9:01 am

    Ouch. I suppose it’s at least some decrease, but not enough.

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