Vernon Building Society has cut fixed-rate deals by up to 30 basis points, while Nottingham Building Society has reduced home loans for foreign nationals and UK expats by as much as 11bps.
Highlights of the Stockport mutual cuts include a three-year 80% LTV residential fix, down by 30bps to 4.49% with a £499 arrangement fee.
Its five-year fixes, with no fees, are also down by 30bps to 4.49%.
Vernon Building Society head of mortgage and savings distribution Brendan Crowshaw says: “Vernon Building Society has a long history of helping people with complex situations and incomes secure a mortgage.
“Brokers can be reassured that our underwriting team personally review each application meaning we can find ways to underwrite a case that other automated lenders won’t.”
Meanwhile, Nottingham Building Society has cut its range of mortgages for skilled foreign nationals and UK expats returning to the country by up to 11bps.
It has also reduced the stress rates used for affordability testing these borrowers in line with the lower interest rate environment.
The mutual offers a variety of two- and five-year loans, which include flexible criteria of up to 90% LTV, with fee and no-fee options.
It has also reduced the maximum product fee across this range to £1,499 from £1,999.
The lender has recently extended this range to cover borrowers on global talent and pre-settlement visas, alongside skilled worker and health and care visas.
Nottingham Building Society sales director Alison Pallett adds: “The latest rate reductions and product enhancements reflect our ongoing efforts to provide accessible, competitive mortgage options that meet the diverse needs of our customers.
“By offering a solution that requires no minimum time of residency in the UK, no UK credit history or no minimum income, we hope to help as many people as possible onto the UK property ladder.”
