Together has cut rates on its discount tracker deals by 25 basis points.
The lender’s discount rates follow the standard variable rate for two years, which they call the Together Homeowner Managed Rate (THMR).
Together has cut its THMR by 25 basis points in response to falling mortgage rates and the fall in the Bank of England base rate – meaning discount rate deals will fall by the same margin.
Following the change, first-cost discount rates will now start at 8.8%, down from 9.05%.
Rates for second recharges now start from 9.49%, down from 9.74%.
Head of Products Ben James said: “We launched our innovative range of discounted mortgages to provide flexibility to borrowers who wanted a mortgage where interest rates could fall over the term.
“Due to falling interest rates, we have been able to pass these lower borrowing costs on to our customers.
“This latest reduction means there is now a 30 basis point difference between our lowest-priced two-year discount product and our lowest-priced two-year fixed product.
“As many economists expect the base rate to continue falling through 2025, the reduced rates should provide more choice for customers who may want to take advantage of further reductions in the future.”