Halifax want to give new homeowners £600
Buying a house for the first time isn't easy. It's mainly thanks to no-one having the money for a deposit. However, Halifax are trying entice people toward them like particularly drably dressed sirens with an offer of £600, provided you do your saving and borrowing with them.
Anyway, first-time buyers who take part in the Halifax's Head Start Home Saver scheme will pocket £600 if they pay into a savings account for 10 months in a 12-month period. The offer/bribe will be put into their account only when they take out a first-time buyer mortgage.
The first-time buyer mortgage range currently includes a two-year fixed-rate loan with a rate of 3.79% for borrowers with a deposit of up to 20% of the purchase price, a rate of 4.64% for those with a deposit of between 15%-20% and a rate of 5.99% for those with a 10% deposit, according to The Guardian.
This deal is similar to the one being offered by Nationwide, as well as the promotion from the Chelsea building society, which offers a rate of 4.39% for two years with a £195 fee and £500 cashback. That said, opening the savings account would not guarantee you a mortgage.
All the Halifax need to do now is to promise to kill those terrible, terrible adverts off too.