Market Harborough Building Society has cut fixed mortgage rates by up to 36bps and introduced a new option allowing borrowers to move from a discounted deal to a fixed rate before completion without paying a product change fee.

The mutual said the reductions took effect from today and apply across its residential and buy-to-let ranges, with two-year fixed rates reduced by 36bps, three-year fixes by 32bps and five-year fixes by 28bps.

Alongside the repricing, the lender has launched a “Discount Now, Fix Later” option aimed at brokers and clients seeking more flexibility while rates remain unsettled. Borrowers who choose a discounted rate when they apply can make one switch to a fixed rate before completion without paying the usual £299 product fee. The arrangement is available for a limited time.

Market Harborough said discounted rates now start from 4.20%.

Among the headline rates, residential tier one cases start from 5.79% fixed and 5.05% discounted with a £1,495 product fee. For residential large loan cases between £3 million and £5 million, rates start from 4.96% fixed and 4.20% discounted for a limited period.

In its buy-to-let tier one range, rates now start from 6.20% fixed and 5.46% discounted. The society said the products include top-slicing and lending into retirement as standard.

The lender added that the reductions also extend to products for expat clients and high-net-worth borrowers.

Iain Smith, head of mortgage distribution at Market Harborough, said: “Waiving the product change fee and allowing a switch from a discounted rate to a fixed rate before completion is about giving brokers and their clients more control in a fast-moving market, removing cost barriers and making it easier to adapt.

“Today’s news reinforces our focus on delivering practical, award-winning solutions for a broad range of client needs, including those with more complex cases. As always, we’re keeping our partners fully informed every step of the way.”