Market Harborough Building Society has reduced rates on its residential larger loan range by up to 0.26%, in a move aimed at improving affordability for high-value borrowers.
The complex case specialist confirmed that the reductions apply to loans between £3 million and £5 million, with its variable, two-, three- and five-year fixed rate products all seeing cuts.
Tier one rates have fallen by 0.21%, tier two by 0.26%, and tier three by 0.11%. Rates for standard residential loans up to £3 million remain unchanged.
Following the update, larger loan rates now start from 5.19% for a fixed rate and 5.24% for a variable rate on tier one cases, with a fixed product fee of £2,495.
Iain Smith, head of mortgage distribution at Market Harborough Building Society, said the changes are designed to widen access for higher-value borrowers. He said: “Our latest rate reductions across our larger loan range open the door for more clients looking to borrow between £3m and £5m.
“It ensures we’re well-positioned to support those borrowers with both simple and more complex circumstances, including high net worth individuals.
“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 society said it continues to focus on lending to clients with complex income structures and those requiring a bespoke underwriting approach.
