Halifax First-Time Buyer review
Best First-Time Buyer
Dedicated first-time buyer mortgages with up to 95% LTV. Part of Lloyds Banking Group with extensive branch network for support.
Overview
Halifax is part of Lloyds Banking Group — the UK's largest mortgage lender by volume. Their first-time buyer range is specifically designed to help people get on the property ladder, with 95% LTV products, clear guidance, and an extensive branch network for face-to-face support.
Who Is Halifax Best For?
- First-time buyers — the primary target audience
- Those who want branch support — over 500 branches for in-person advice
- Government scheme users — compatible with Help to Buy and LISA
- People wanting a known brand — backed by Lloyds Banking Group
First-Time Buyer Products
| Product |
Fixed Period |
Max LTV |
Product Fee |
| FTB 2-year fixed |
2 years |
95% |
£0 — £1,499 |
| FTB 5-year fixed |
5 years |
95% |
£0 — £1,499 |
| FTB tracker |
Variable |
90% |
£0 |
The Application Process
Halifax offers one of the most structured FTB experiences:
- Online Agreement in Principle — get a decision in minutes
- Book a branch appointment — speak to a mortgage advisor face-to-face
- Full application — advisor guides you through documentation
- Valuation and offer — Halifax arranges the property valuation
- Completion — you get the keys
Before house hunting, get a Halifax AIP online. It takes 15 minutes and shows estate agents you are a serious buyer. It also confirms your budget so you do not waste time viewing properties you cannot afford.
Deposit Requirements
| Deposit |
LTV |
Rate Impact |
Monthly on £200k |
| 5% (£10k on £200k) |
95% |
Higher rate |
~£1,200 |
| 10% (£20k on £200k) |
90% |
Better rate |
~£1,130 |
| 15% (£30k on £200k) |
85% |
Good rate |
~£1,080 |
| 25% (£50k on £200k) |
75% |
Best rate |
~£1,020 |
Moving from 95% to 90% LTV (saving an extra 5% deposit) typically unlocks rates 0.3-0.5% lower. On a £200,000 mortgage, that saves £50-80/month and thousands over the mortgage term. If you can wait 6-12 months to save more, it often pays off.
What Halifax Lacks
- Higher rates at 95% LTV — the lowest deposit comes with the highest rates
- Product fees on best rates — £999-1,499 fees eat into savings
- Processing can be slow — large volume means longer wait times
- Limited overpayment flexibility — 10% per year maximum
The Bottom Line
Halifax is a solid, reliable choice for first-time buyers who want the security of a major lender and the option of face-to-face support. The rates are competitive (though rarely the absolute cheapest), and the structured application process takes the stress out of buying your first home.
Pros
- Specialist FTB products
- Up to 95% LTV
- Extensive branch network
- Fixed and tracker options
- Help to Buy compatible
Cons
- Higher rates at 95% LTV
- Product fees on best rates
- Can be slow to process
- Limited overpayment flexibility