Coutts has reduced its residential and buy-to-let mortgage rates.

Reductions across all residential mortgage rates are as follows:

• Two-year base rate tracker reduced by 20bps to 1.74% (Base + 1.49%)
• Two-year fixed rate reduced by 40bps to 1.95%
• Five-year fixed rate reduced by 80bps to 2.19%
• 10-year fixed rate reduced by 100bps to 2.99%

Meanwhile, two and five-year buy-to-let fixed rate mortgages have been reduced by 20 bps to 2.45% and 3.09%.

Rates also apply to clients of Adam & Company.

James Clarry, head of lending & capital management for Coutts, said: “We have a proud history, spanning almost 300 years, of supporting our clients with reliable and expert lending, for their dream home, investment opportunities or advice on the most complex borrowing.

“Today, with a loan to deposit ratio of 47%, we stand ready to support clients looking for both competitive rates and borrowing in often complex circumstances. Our lending service is highly flexible and we understand that many of our clients do not fit neatly into a box – that’s why we assess the entire holdings of a client when making lending decisions, looking beyond simple income. We know, for example, that many of our entrepreneurial clients prefer to invest in their business rather than take a salary and we therefore offer flexible affordability calculations tailored to their needs.

“Today’s prices are a clear demonstration that we are open for business and ready to lend. The two year base rate tracker, our most flexible product, is down 20bps points. With the Bank of England’s rate unlikely to go much lower, the 10-year fixed rate mortgage is becoming ever more popular and has enjoyed a cut of 100bps. And in recognition of the demand for high value lending, we are introducing a 20bps discount for all residential and buy to let lending greater than £5 million. This represents a fantastic offering across the board.”