Halifax Cuts Mortgage Rates — A Week After Raising Them
"Halifax confirms change for customers 'from Friday' with 'cost cut'" — Darryl Dhoffer quoted alongside other leading brokers on what the cut really means for borrowers.
✅ Rate Cut Confirmed — Effective Friday 14 August
Halifax is cutting its mortgage rates from Friday 14 August: homemover and first-time buyer products by up to 0.15%, remortgage products by up to 0.13%, and product transfer and further advance products by up to 0.12%.
The turnaround: this comes just a week after Halifax raised rates by up to 0.12% — the move I was quoted on in the Mirror back on 4 August. Brokers say a lender this size cutting is a genuinely encouraging signal for the wider market.
What Halifax Is Changing
Halifax Rate Changes — Effective Friday 14 August 2026
The genuinely interesting part is the timing. Halifax raised rates by up to 0.12% only last week — the exact move I was quoted on in the Mirror. A full reversal within seven days says less about Halifax's funding costs and more about where their application volumes actually landed once the dust settled.
My Take — Published in the Daily Mirror Today
What This Means Practically
A 0.15% cut on a £250,000 mortgage over 25 years saves roughly £21 a month — not life-changing on its own, but the real value is what it signals. When one of the biggest lenders in the country decides it has room to cut, competitors typically respond within days, not months. Several brokers quoted alongside me in today's piece made the same point: this could matter more than the headline number suggests if it triggers a genuine round of repricing.
If you've been waiting for a "better moment" to lock in a rate, a cut like this is often exactly that moment — not because 0.15% is dramatic, but because it's evidence the market is finally moving in your favour after months of rates shifting up, down and sideways with no clear direction.
What About Bad Credit Borrowers?
Mainstream rate cuts like this don't automatically flow through to specialist lending, but they do shift the wider mood. When high street lenders start competing harder for volume, specialist lenders — who are watching the same funding markets — often follow with their own adjustments, sometimes faster than you'd expect.
If you're on a specialist rate, approaching the end of a fixed term, or wondering whether now's the moment to apply despite a CCJ, default or IVA, this is a genuinely good window to have that conversation rather than wait and see.
The Bank of England — Next Decision 17 September
The Bank of England has held its base rate at 3.75%, with the next decision on 17 September. Halifax's move happened entirely independently of that — which is exactly the point I made in the piece: lenders are competing on volume and market share right now, not just reacting to the base rate.
I'll keep the Hub rates and this blog updated as the picture develops. If your fixed term is ending in the next few months, WhatsApp me and I'll walk you through what this actually means for your specific situation.
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