Digital bank Tandem has reduced its rates for residential second charge mortgage products by up to 90 basis points (bps).

The lender said further rate discounts are available to borrowers across the entire product range for properties with an Energy Performance Certificate (EPC) rating of A, B, or C.

For properties with an A, B, or C rating, customers can enjoy a rate discount of up to 0.5%. This aligns with Tandem’s goal to help UK consumers transition to greener homes, transport and lifestyles.

Tandem head of distribution for second charge Nigel Brookes said: “This is positive news for second charge brokers and their customers. These rate reductions will continue to help brokers deliver good customer outcomes and help clients manage ongoing cost of living challenges. This is the first of many positive steps forward Tandem Bank will take in 2024.”

The Manchester-based bank was launched in 2014 as one of the UK’s original challenger banks. Its mission is to help the UK transition to a lower carbon lifestyle.

The digital bank offers products that make it easier for more people to choose a greener lifestyle – helping save money whilst reducing carbon footprints.