Halifax is offering to refund a year’s insurance premium for first time buyers when they purchase a new property and take out a Halifax Home Solutions insurance policy.

Available on a selected mortgage range to first time buyers who apply for mortgage between 8 July and 18 August, the refund will be paid directly into the account from which mortgage payments are made within 60 days of the mortgage start date.

Customers who have or open a Halifax current account will also receive £150 cashback, payable to the customer’s conveyancer on completion.

Customers must submit the home insurance application at the same time as the mortgage application. Costs refunded up to a maximum of £600. If we cannot insure any part of the property, customers will receive £250 cashback.

The offer is only available for FTB 0-95% LTV choosing a product from the first time buyer range, Help To Buy (Mortgage Guarantee) or new build 80-90% LTV.

Craig McKinlay, mortgage director at Halifax, said: “Upfront costs when purchasing a new property can add up and first time buyers often fail to account for the cost of home insurance when planning the finances for their new home, so we’re delighted to be able to make their lives easier and provide the added peace of mind that their home is fully protected.”