GE Money Home Lending (GEMHL) has cut its two-year discount rate by 0.95 percentage points to give a starting rate of 1.99%.

Cutting rates across its entire range, the lender has also extended its completion fee free option beyond LVM0 and GEM1, to FTB0, LTM0 and LTM1 product plans saving customers up to £1,295.

Meanwhile, self-employed applicants can now access a First Time Buyer plan.

GEMHL has also taken the opportunity to revise and simplify reversionary rates.

Nikki Warren, GEMHL’s head of sales, said: “The significant reductions in rates, extended completion fee free options and opening of FTB0 to the self-employed have been welcomed by our brokers, and will help provide customers with valuable savings on mortgage fees and ongoing monthly payments.”