A new two year fixed 'Premier Great Escape' residential product, at 1.80%, has been launched with no product fees and up to 50% LTV. This product is available for loans between £50,000 and £1,000,000 and includes £800 cashback on remortgages.
Alongside the new product, there have also been a number of reductions - amongst a number of residential purchase loans reduced are their 3-year 'Great Escape' fix, which is now at 1.95%, and their five-year fix to 3.09%.
Reduced remortgage products include their 'Great Escape' two-year fix up to 60% LTV which is now down to 1.85% and their five-year fix in the same range, which is down from 2.27% to 2.19%.
It is also cutting rates on longer term fixes for both purchase and remortgage, with their ten-year fixes up to 60% and 70% LTV dropping to 2.34% and 2.37% respectively.
As well as rate changes, the bank is also increasing the overypayment allowance on all its new ten-year fixes to 10%, and extending the end dates on all its fixed rates until the 30th April.
The changes take effect as of tomorrow, Thursday 9th January 2020.
