The Cambridge Building Society is reducing rates on three of its current mortgage products in its residential range.
In addition, it has launched a new three-year fixed rate product for intermediaries.
Fees are also being cut and a new 85% tier being added to all of the products.
Key changes include:
Launch of three-year fixed rate
- 3.29% at 75% LTV
- 3.39% at 80% LTV
- 3.89% at 85% LTV
- 4.59% at 90% LTV
- “low fees” and free standard legal fees and valuations for remortgages
Interest rates have been reduced by up to 0.30 percentage points across the mutual’s two-year fixed, five-year fixed rate and two-year Discount products.
The Cambridge has reduced fees on its two-year fixed rate and five-year fixed rate mortgages and added a new 85% tier added to two, three, five year fixed rate and two-year discount products.
There are also free standard legal fees and valuations on remortgages on the five-year fixed rate mortgage.
Andy Lucas, commercial director at The Cambridge, said: “We continually look at our product range to see what improvements can be made.
“After launching a range of new products into the intermediary market in October, we’re confident these additional changes backed up by our award-winning service, provide extra support to Intermediaries in meeting their customers’ needs.”