Market Harborough Building Society is set to implement a fresh round of mortgage rate reductions from 1 July, including a cut to its Standard Variable Rate.

The building society confirmed that its SVR will fall by 0.20% to 7.59%.

Alongside this, a number of its residential and buy-to-let products — including options for expatriates and those with complex needs — will also see reductions of up to 0.45%.

Among the most significant changes are rate cuts across all variable mortgage products, which will decrease by as much as 0.45%.

Three-year fixed rates and tier two fixed rates on UK residential loans up to £3 million will drop by up to 0.15%, while rates in its large loan category, for cases up to £5 million, will also fall by up to 0.15%.

Following these changes, Market Harborough’s new rates will start from 4.99% for fixed and 5.34% for variable residential mortgages, with a £1,495 product fee.

For let cases up to 75% loan-to-value — which include features such as top-slicing and lending into retirement — rates will begin at 5.40% fixed and 5.75% variable.

Iain Smith, head of mortgage distribution at Market Harborough, said: “As the Base Rate continues to drop, we’re proud to pass on a reduction in our SVR to existing borrowers.

“And we’re going even further by significantly lowering our new business rates, opening the door for more clients, especially those seeking the flexibility of a variable rate or with complex circumstances.

“It will help us support even more clients, including expats, landlords, those with non-standard income, quirky properties or looking for a larger loan up to £5m.

“We’re always listening to broker feedback, and these cuts are part of our promise to stay responsive, flexible, and easy to do business with.”

The move follows earlier reductions earlier this month to its residential products up to £3 million, which were cut by up to 0.20%.