Halifax has cut its remortgage rates by up to 0.50 percentage points, as well as reducing selected product fees.

The rate reductions have been applied to selected two and five-year remortgage products and build on a number of rate reductions implemented by Halifax in recent weeks.

In addition, Halifax has almost halved first-time buyer, homemover and remortgage product fees across its range from £995 and £999, to £495.

New remortgage products now include a two-year remortgage at 0-60% LTV reduced by 0.20 percentage points, to 2.29% with £495 fee and a two-year remortgage at 80-85% LTV reduced by 0.50 percentage points, to 2.94% with £495 fee.

The Halifax remortgage service is included as standard offering customers their valuation and standard legal fees paid.

Craig McKinley, Halifax’s mortgages director, said: “We’re committed to providing great value mortgage products to borrowers whether they are looking to remortgage their existing home, or whether they are buying for the first time.

“These latest changes not only offer competitive rates, but also support customers with the costs of their valuation and legal fees.”