Metro Bank has reduced rates across its two, three and five-year-fixed residential range, as well as its two and five-year tracker products.

For residential mortgages under £2 million, the new rates are now available from:

• 5-year fixed up to 65% LTV: 1.69%
• 5-year fixed up to 70% LTV: 1.79%
• 5-year fixed up to 75% LTV: 1.84%
• 5-year fixed up to 80% LTV: 1.99%
• 5-year fixed up to 85% LTV: 2.09%
• 5-year fixed up to 90% LTV: 2.59%

For both its two and three-year fixes, rates have been reduced by up to 20bps and are now available from 1.89%.

The bank’s two and five-year trackers up to 85% LTV have also been cut by 10bps, with rates now starting from 1.84% and the five-year tracker coming with a three year Early Repayment Charge.

Charles Morley, director of mortgage distribution at Metro Bank, said: “We’re here to show our broker partners and customers that we mean business. With increasing uncertainty about a potential rate rise, we want to give people peace of mind by providing competitive rates, alongside the flexibility to overpay by up to 20% per year.”