A two-year fixed with a rate of 2.69 per cent and fees of either £999 for loans of over £500,000 or £1,499 for loans over £1m has been introduced for borrowers with a 15 per cent deposit. This mortgage will be available from 8 January.
Also from tomorrow, the rates of mortgages available to new customers will be cut by up to 15 basis points.
This includes a two-year fixed at 75 per cent LTV which has gone down from 1.89 per cent to 1.79, as well as a two-year fixed at 85 per cent which has been reduced from 3.11 per cent to 3.04 per cent.
Meanwhile, products for existing borrowers with low equity have increased by 40 basis points.
The two-year fixed at 90 per cent LTV with a £1,499 fee has gone up to 2.99 per cent and the £999 fee option has increased to 2.79 per cent.
The 85 per cent LTV mortgage for existing customers with either a £999 or £1,499 fee has risen from 2.29 per cent to 2.69 per cent.
The products with lower fees apply to borrowers requiring loans of £500,000 and over, while the higher fee products apply to those who require loans of £1m and above.