Intermediary Cooperative Bank has launched fixed-rate loans below 4%, while Metro Bank refreshes its approach to major residential scope.
The focus of the transactions with less than 4% of lenders is a two-year delegate loan, a 60% loan worth £999 at 3.85%.
It also had a two-year purchase deal, at 3.97% at the time, 80% LTV, with a fee of £1,999 and a minimum loan of £750,000.
“It’s nice to see rates below 4% are becoming increasingly permanent in the market,” said Fred Sharp, a co-brand director at the intermediary distribution partner bank.
“We hope that brokers can take this opportunity to support their clients, whether they want to cash out or buy a new home.”
The company added that it has cut new businesses that it purchased for two- and three-year purchases by 10 basis points, while landlords have reduced their two-year fixed (no fees) by 65% LTV.
Meanwhile, Metro Bank said its changes to its near-major products will provide customers with a larger option for their credit profile.
The range refresh includes a higher maximum loan, worth 85% and an increase in loan size up to £750,000.
The bank has put higher restrictions on the county court’s judgment and breach and will now ignore any utility or communications breach.
It also deletes any cap on unsecured debts as long as they have been cleared in the past three months.
The lender has also introduced only larger repayment options, with interest only, part and part now available.
