Halifax has unveiled a new five-year fixed rate mortgage at 60% LTV.

It is priced at a rate of 2.69% and comes with a £1,995 fee.

Craig McKinlay, new mortgages director at Halifax, said: “We are continuing to enhance our mortgage range and offer competitive products across all loan to value ranges to help all homebuyers.

“Homemovers play a key role in ensuring the strength of the property market and we are committed to helping these buyers take the next step on the ladder.

“We are increasing choice and, by listening to customers, providing products that offer added value through initiatives such as our current offer of £500 cashback towards moving costs.”