Fleet Mortgages has cut rates on all its two and five-year fixes and has launched a new green seven-year fixed rate product. The lender has cut rates by 15 bps across all of its fixed rates, including its standard and limited company borrowers, with the two-year fix available up to 75% now at 5.64%. The five-year fix at 70% and 75% LTV is also available at 5.54% and 5.94% respectively. The new green seven-year products at available up to 75% LTV and are priced at 5.74% for standard and limited company borrowers, and 5.88% for HMO borrowers. This is 10 bps below Fleet’s current green five-year fix and comes with a 3% product fee.

Nationwide Building Society has made cuts to the majority of its fixed rate mortgage products. Rates have been reduced by up to 0.31% and the latest reductions mean that the society now offers sub-5% rates on its residential range with five and 10-year rates for first-time buyers and home movers starting at 4.94%. Nationwide is also offering two-year fixed rates below 5.5% with rates for home movers starting from 5.44%. The changes also continue the society’s existing mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.

MPowered Mortgages has announced rate reductions across its entire suite of fixed rate products. Rates for a residential two-year fixed mortgage have seen reductions of up to 0.12%, with rates starting at 6.07% for both purchases and remortgages for consumers looking for a two-year fixed product without an arrangement fee. Rates have also been reduced on the three-year fix, falling by as much as 0.10%. For purchasers paying an arrangement fee of £2,495, rates begin at 5.54% for purchasers and 5.49% for remortgages. The products are available for purchasers and remortgages at 5.89% and 5.94% respectively without an arrangement fee. For five-year fixes, rates start at 5.24% and 5.29% for purchaser and remortgages respectively with a £1,999 arrangement fee. Rates start at 5.44% and 5.49% respectively with no arrangement fee.

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