Halifax rewards first-time buyers and homemovers with £1000 cashback

Last Updated on: 22nd November 2023, 07:10 am

Halifax is offering first-time buyers and homemovers £1000 cashback on qualifying mortgages from today.

As well as extra cashback, eligible borrowers will also have the support of a dedicated mortgage adviser to help make the process as simple and easy as possible.

Richard Washington, Mortgages Director at Halifax, said: “Taking your first step onto the property ladder and moving house are big life milestones. The costs involved can also be significant, during what can often be a stressful time.

“Our latest offer aims to be there when first-time buyers and homemovers need us, providing a boost to bank balances during what can be an expensive period. This should mean that borrowers can focus on celebrating moving into their new properties and making them a home.”

Halifax first-time buyer facts:

For the third year in a row, over 300,000 first-time buyers moved onto the property ladder, growing from 312,900 in 2015 to approximately 335,750 in 2016.

The average age of a first-time buyer is 30. This age is 32 in London, 27 in Cumbria (Carlisle) and South Wales (Torfaen) and 34 in the South (including Berkshire in Slough and Barnet and Ealing in London).

The average first-time buyer deposit has more than doubled over the past decade from £15,168 in 2006 to £32,321 in 2016.

The average national deposit of £32,321 is equivalent to 16% of the average price of a typical first-time buyer home.

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