Changes to the bank's residential purchase products include a reduction of 0.50% on a two-year fixed rate 90%, which is now 3.22%, and its five-year fix at 90% is now 3.30% (down from 3.48%). Both products are available for purchases up to £570,000, with no fee on the two-year product and a £999 fee on the five-year.
At a lower LTV, the five-year fix at 60% - available for purchases up to £5m - will decrease to 1.52% from 1.68%. This product has no fee.
Borrowers looking to utilise 95% LTV Mortgage Guarantee scheme products also benefit from the reductions with their two-year fix reduced to 3.96% from 3.99% and the five-year fix to 3.97% from 4.09%.
The lender's Green Home product - available for energy-efficient homes - has been reduced to 3.12% from 3.62% on a two-year fixed rate at 90% LTV.
Available for both purchase and remortgage is a two-year fix at 75%, which has decreased to 1.30% from 1.38% with a £999 fee.
Landlords also benefit from the cuts, with two new products - one, a two-year fixed rate at 2.05%, and a five-year fix at 2.15%. Both products are available at 75% LTV on loans between £35,000 and £1m with a fee of £1295. Those looking for a remortgage on a BTL property have the same products available with a £1795 fee.
All changes and new products are effective as of tomorrow (Wednesday 26th May).
