Dudley Building Society, Zephyr Homeloans and Atom Bank have cut interest rates on residential, buy-to-let and expat products by up to 110 basis points.
The latest repricing sees Dudley Building Society deliver the biggest reductions, while Zephyr Homeloans has cut all discounts fixed rates by 15 basis points and Atom Bank has reduced the interest rate on its Prime mortgage range by 15 basis points
Dudley Building Society has announced significant cuts to its residential, buy-to-let and expat mortgage offering, with interest rates being cut by as much as 110 basis points.
The changes will apply from June 19 to both purchase and refinancing cases.
These include two- and five-year fixed rate products, discounted mortgages, interest-only residential options and selected buy-to-let and expat products.
One of the most notable reductions is the five-year fixed rate residential mortgage at a loan-to-value (LTV) of 75%, which has been reduced from 6.20% to 5.1%.
The two-year fixed rate residential expat product with a 75% LTV has fallen from 6.3% to 5.38%, while the five-year 75% fixed rate residential expat product has been reduced from 6.3% to 5.4%.
In the buy-to-let sector, the five-year fixed rate mortgage at 80% LTV has been reduced from 6.4% to 5.63%, while the expat buy-to-let five-year fixed rate product at 70% LTV has been reduced from 6.3% to 5.68%.
The lender has also reduced rates on several home refinancing products, including a five-year fixed rate mortgage at a 60% LTV, which is now available at a 4.9% LTV, down from 6%.
In addition to the rate reductions, Dudley Building Society has recently increased the maximum loan size available on selected home products to £1.5 million, providing greater flexibility for borrowers with greater financing needs.
Zephyr Homeloans has reduced all of its fixed-rate products by 15 basis points.
As a result of the changes, the lender’s two-year fixed rate now starts at 2.99%, while the five-year fixed rate starts at 4.69%.
The nominal rates are available with a product fee of 7%, although brokers can choose from a range of fee options starting from 0% depending on the client’s individual needs.
The revised rates are available across Zephyr Homeloans’ buy-to-let mortgage range and are now live on the lender’s website and purchasing systems.
Meanwhile, Atom Bank has cut rates across its Prime mortgage range by 15 basis points, with the cuts applying to all products up to 95% LTV, including both commission and commission-free options.
The reductions take effect immediately and the average interest rate now starts at 5.29% for a two-year fixed rate mortgage up to 85% LTV with a £900 fee.