Effective 16 January, its two-year fixed purchase rates at 80-90% loan to value (LTV) have been reduced by as much as 0.1%, and fee-free three-year fixed purchase deals up to 90% LTV have been cut by as much as 0.15%.
Its two-year fixed remortgage rates have been lowered by up to 0.1%, as well as two-year fixed shared ownership and shared equity purchase rates at 80-85% LTV.
TSB has made a cut of up to 0.1% to two-year fixed shared ownership purchase rates at 85-90% LTV.
For product transfer borrowers, two-year fixes up to 90% LTV and three-year fixes up to 80% LTV have been reduced by up to 0.1%.
Across its additional borrowing range, two- and three-year fixes have been lowered by up to 0.1%.
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Newcastle BS cuts SVR
Newcastle Building Society has reduced its mortgage standard variable rate (SVR) by 0.19% to 6.31%.
This is effective from 1 February and comes after the central bank lowered the base rate by 0.25% to 3.75%.
The change will apply to residential, self-build and buy-to-let (BTL) products linked to the mutual’s SVR on properties in England, Wales and Scotland.
Borrowers in Gibraltar will also see a reduction by 0.19% to 6.75%.
Ben Smith, head of commercial and product development at Newcastle Building Society, said: “As a mutual, we remain committed to balancing the needs of our saving and lending members.
“This reduction to our SVR to 6.31% is a reflection of this commitment.”
