Tandem has reduced its residential second charge mortgage products by up to 90 basis points (bps).

Further rate discounts are available to borrowers across the entire product range for properties with an Energy Performance Certificate (EPC) rating of A, B, or C.

For properties with an A, B, or C rating, customers can receive a rate discount of up to 0.5%..

Nigel Brookes (pictured), head of distribution for second charge, said: “This is positive news for second charge brokers and their customers. These rate reductions will continue to help brokers deliver good customer outcomes and help clients manage ongoing cost of living challenges.

“This is the first of many positive steps forward Tandem Bank will take in 2024.”