Shawbrook Retail Mortgages has implemented a series of interest rate cuts on residential mortgages at The Mortgage Lender (TML) and Bluestone Mortgages.
Steve Griffiths
Bluestone Mortgages has reduced prices on select products by up to 20 basis points.
These include a reduction of 15 basis points on two-year deals with a Loan-to-Value (LTV) of 85%, in addition to reductions of up to 20 basis points on two-year products with a 90% LTV and 15 basis points on five-year products with a 90% LTV.
Within the residential TML range, selected two- and five-year term products within levels RL0 and RL1 have been reduced by an average of 6 basis points, with discounts of up to 20 basis points on some products.
In addition, TML has scrapped the £150 sign-up fee for its residential range, alongside expanded access to Limited Edition products and shared ownership reductions of up to 50 basis points.
Steve Griffiths, commercial director of private mortgages at Shawbrook, said: “We know that affordability and initial costs remain paramount for both brokers and borrowers. By lowering rates, abolishing application fees where possible and widening access to TML and Bluestone mortgages, our aim is to help brokers support customers with greater confidence in a challenging market.”