The lender has also reduced rates on its two-year fixed standard residential products by 0.05 per cent for 90 per cent loan to value and its five-year fixed standard residential and offset products by up to 0.10 per cent.
Changes to the 10-year fixes include:
- 2.20 per cent 10-year fixed until 30 September 2029, at up to 50 per cent loan to value (LTV) with early repayment charges (ERC) payable until 30 September 2024 and a £999 product fee;
- 2.40 per cent offset 10-year fixed until 30 September 2029, at up to 65 per cent LTV, with ERCs payable until 30 September 2029 and a £999 product fee
Kevin Purvey, director of intermediaries, said: “Many borrowers are nervous about future market conditions, which is why more lenders are offering 10-year fixed rate mortgages and rates have never been more competitive.
“A wide range of clients could benefit from a longer-term fixed mortgage – from those who are close to the end of their mortgage deal to families looking to keep costs down for longer – so it’s worth brokers considering these products for their clients.”