The launch is a five-year fixed fee-free residential purchase mortgage at 90% LTV with a rate of 4.5%.
Elsewhere, Barclays has lowered the rate of its two-year fixed premier residential product at 60% LTV from 3.96% to 3.88%. This has an £899 fee.
There is also the equivalent product for standard residential borrowers, which has been cut from 3.97% to 3.89%.
Selected green mortgage rates, as well as two- and five-year fixes at 85% and 90% LTV, have also been reduced.
Across its residential remortgages, the two-year fixed premier product at 60% LTV with a £999 fee has been cut from 3.97% to 3.9%. Meanwhile, the standard option has been reduced from 3.98% to 3.91%.
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At 75% LTV and with a £999 fee, the two-year fixed remortgage rate has dropped from 4.29% to 4.14%, while the fee-free two-year fixed Great Escape remortgage has gone down from 4.72% to 4.54%.
Changes will apply from 25 June.
Last month, the bank increased rates for selected residential purchase and remortgage products.
TSB cuts mortgage rates by as much as 0.3%
From today, TSB has reduced residential mortgage rates by up to 0.3%.
Its fee-free two-year fixes for first-time buyers and homemovers up to 75% LTV have gone down by 0.05%, while two-year fixes between 75% and 90% LTV have been cut by as much as 0.1%.
TSB’s three-year fixes up to 90% LTV have been reduced by up to 0.15%.
Also for first-time buyers and homemovers, fee-free five-year fixes at 60-75% LTV have been lowered by 0.05%, and deals at 75-85% LTV have been cut by the same amount.
The lender’s two- and five-year fixed shared equity and shared ownership rates for first-time buyers and homemovers have been lowered by as much as 0.3%.
Co-op cuts selected rates
Co-op Bank has lowered selected rates for new business borrowers.
This includes some two- and three-year fixed remortgages, which have been cut by as much as 0.19%, and selected two-, three-, and five-year fixed purchase products, which have been reduced by up to 0.15%.
Across its professional mortgage range, selected two-year fixed rates have dropped by as much as 0.19%.
Selected two-year fixed rates for the Welsh Help to Buy scheme have been cut by 0.07%.
For existing borrowers, selected two- and three-year fixed residential mortgages have been cut by up to 0.19%, while selected two- and three-year fixed Help to Buy products have decreased by 0.07%.
