Market Harborough Building Society is lowering its Standard Variable Rate (SVR) by 20 basis points (bps) to 7.79% on 1 March.
The SVR reduction will see the society’s residential and let discount also reduce by 20bps.
This means the following ranges will benefit from the reduction:
- Residential, including larger loans up to £5m
- Buy-to-let
- Holiday let
- Expat.
Its fixed rates and bridging finance rates are unaffected.
Iain Smith (pictured), Market Harborough’s head of mortgage distribution, said: “Our promise to be ‘best for brokers’ remains as firm as ever, and we’re always looking for ways to make it even easier for brokers to place their cases.
“These latest reductions will make our range of specialist lending solutions for loans up to £5m even more accessible for clients wanting flexibility, including our range of lifetime discounts.”
From 1 March, Market Harborough’s rates will start from:
• 5.29% fixed and 5.64% variable for residential tier one cases up to 75% LTV with a £1,495 product fee.
• 5.55% fixed and 5.90% variable for buy to let tier one cases up to 75% LTV, including top-slicing and lending into retirement as standard.
