Halifax increases rates on fixed and discount deals

Halifax has effectively withdrawn from the remortgaging market by increasing rates on its discount and fixed rate deals to bring them closer to rates being paid by existing borrowers. The move follows news that the lender has recently doubled its share of the UK mortgage market to 25%. Although many lenders are currently offering cheaper deals, it seems that Halifax's money-saving strategy is proving effective and has not cost the lender its competitive edge. Similar moves have been made by other lenders desperate to stop borrowers moving to the cheapest deal once disco...