The Co-operative Bank for Intermediaries has introduced sub-4% fixed-rate loans, while Metro Bank has refreshed its near prime residential range.
Highlights among the lender’s sub-4% deals are a two-year remortgage-only fixes at 3.85% at 60% loan to value, with a £999 fee.
It also has two-year purchase deals at 3.97% at 80% LTV, with a £1,999 fee and a £750,000 minimum loan.
Co-operative Bank director of intermediary distribution Fred Sharp says: “It’s great to see sub-4% rates are becoming more of a permanent fixture in the market.
“We hope brokers can take this opportunity to support their clients, whether they are looking to remortgage or buy a new home”.
The firm adds that it has cut selected new business two- and three-year purchase fixes by up to 10 basis points, while landlord two-year fixes at 65% LTV, with no fee, have been reduced by up to 12bps.
Meanwhile, Metro Bank says the changes it has made to its near prime products will provide greater choice for customers with a less-than-perfect credit profile.
The range refresh includes a higher maximum loan to value of 85% and an improved loan size of up to £750,000.
The bank has introduced higher limits for county court judgments and defaults, and will now ignore any utility or communication defaults.
It has also removed any cap on unsecured arrears, provided they have cleared in the last three months.
The lender has also introduced greater repayment choice with interest only, and part and part now available.
