The reduced rates went live on Wednesday 14 September 2016 and apply both existing and new customers of Coutts.
The bank said it is already experiencing a spike in enquiries.
“We are definitely seeing an increased interest, especially within the broker community”, a spokesperson for Coutts said.
Rates have been reduced across the board to maintain healthy competition within the market. Ten-year fixed rate mortgages are down by 2.99% and there a discount of 20 bps for lending greater than £5 million.
The reduced rates will also apply to clients of Adam & Company, a private bank with three branches in Scotland and one in London.
James Clarry, head of lending and capital management for Coutts, said: “Today with a loan to deposit ratio of 47%, we stand ready to support clients looking for both competitive rates and borrowing in often complex circumstances.
“Our lending service is highly flexible and we understand that many of our clients do not fit neatly into a box- that’s why we assess the entire holdings of a client when making lending decisions, looking beyond simple income.”
Typically, clients of Coutts will request to borrow within the region of £1 million and up.
The bank hopes the rates will help it grow and encourage more business with its existing client base.
