Halifax has made a rule change as it slashed mortgage rates by up to 0.15% from Friday in a move that could spark a price war among Britain's biggest lenders.
The banking giant is cutting rates across its range, with first-time buyer and homemover products reduced by up to 0.15% and remortgage deals cut by up to 0.13%.
This comes just a week after Halifax raised rates by 0.12%, offering relief to borrowers after months of volatile pricing.
Mortgage experts say the significance lies in one of Britain's biggest lenders deciding it has room to cut rates.
Jamie Elvin from Strive Mortgages said Halifax had "fired the first shot" in a potential mortgage price war.
