GE Money Home Lending is cutting rates on loans over £250,000.
It is cutting rates by 0.65 percentage points, in a move designed to meet increasing demand from intermediaries and customers.
Rates on loans for between £250,000 and £500,000 will now start from 3.49% on its two-year discount product and 3.79% on its two-year fixed rate mortgage.
Larger loans will be available at LTVs of up to 80% for employed and self-employed applicants as well as customers with minor credit issues.
The larger loans rate reduction follows on from GE Money’s new product range launched in August which included rate cuts of up to 75bps on two and three-year fixed rate products as well as reductions in fees and the launch of a new plan for credit-worthy customers with limited mortgage histories.
Gerry Bell of GE Money Home Lending said: “There is growing demand for larger loans in line with rising house prices in popular areas and the rate reductions reflect our focus on ensuring intermediaries can offer customers value for money deals.”
