It has raised the maximum loan size on residential products to £3m with a fixed fee of £1,495, which it said would allow more borrowers to benefit from lower rates. Its larger loan proposition is now available on cases from £3m to £5m.
Market Harborough Building Society has also increased the maximum loan size for expats on its standard range from £2m to £3m and has made no-fee options available. The maximum loan size available for other cases remains at £5m.
Iain Smith, head of mortgage distribution at Market Harborough Building Society, said: “We’re delighted to make our residential solutions even more accessible with these changes.
“UK clients looking for a solution between £2m and £3m will now benefit from cheaper rates and a lower, fixed product fee, and we can now help even more expat clients at our lower rates by offering them our standard expat range up to £3m.”
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MPowered Mortgages cuts three-year fixed rates to 3.88%
MPowered Mortgages has made further rate reductions to its mortgage rates, with cuts across its three-year fixed range.
For new purchase customers, pricing will start at 3.88% at 60% loan to value (LTV) with a £999 fee or 4.08% with no fee.
Peter Stimson, head of product at MPowered Mortgages, said: “We are delighted to be cutting rates once again and believe our three-year fixed rates offer outstanding value in the market at present.
“Borrowers need to be aware that current mortgage deals might not be around for long, as swap rates are now rising as tariff deals are now being struck, starting to allay some of the recessionary fears that were priced into the swap curves. We would urge borrowers to speak to a broker and secure a deal as soon as they can if they want to benefit from current rates.”
