Tandem Bank has introduced a refreshed first charge mortgage range.

It says its most significant change is within the 90% loan to value (LTV) range and that the refresh of the T1 rate on two-year and five-year fixed rates will have a “substantial” impact on first-time buyers.

Tandem has launched a two-year fixed product at 7.59% and a five-year fixed product at 7.14%, with a £1,495 completion fee. The maximum loan amounts for these products is £750,000 for up to 80% LTV and £500,000 for 90% LTV.

In addition, Tandem is offering additional rate discounts across its entire product range for both new purchases and remortgages. Borrowers with an Energy Performance Certificate (EPC) rating of A, B, or C can receive additional rate reductions of up to 0.3%.

Roger Morris (pictured), sales and distribution director at Tandem Bank, said: “We value our symbiotic relationship with mortgage advisers, where we actively seek and listen to feedback. We take prompt actions to tailor our residential offerings around the needs of customers, as voiced by the advisers on the front line.

“In light of the significant rise in rental charges, especially over the last 24 months, homeownership has become an aspiration for numerous hardworking families across the UK.”