The Beverley Building Society cuts mortgage rates by up to 40bps

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The Beverley Building Society has announced updates to its mortgage range, with changes including “significant” rate reductions.

It has reduced rates on deals including its recently-launched 95% LTV mortgage aimed at first-time buyers.

Home purchase product changes:

  • 3-year discounted variable rate deal up to 65% LTV, reduced by 0.40 percentage points, from 2.39% to 1.99% (a 3.00% discount off the Society’s current SVR of 4.99)
  • 2-year fixed rate 95% LTV rate deal reduced by 0.36 percentage points, from 3.85% to 3.49%
  • 3-year discounted variable rate deal up to 80% LTV reduced by 0.34 percentage points, from 2.49% to 2.15%, a discount of 2.84% off the Society’s SVR
  • 2-year variable rate deal at 1.82% now available up to 80% LTV (previously 75% LTV).

Remortgage product changes:

  • 3-year discounted variable rate deal to 65% LTV rate reduced by 0.14 percentage points, from 2.39% to 2.25%, a 2.74% discount off the Society’s SVR
  • 2 and 3-year variable rates at 2.19% and 2.49% respectively, now available up to 80% LTV
  • 2-year variable rate deal at 1.82% now available up to 80% LTV (previously 75% LTV).

Graham Carter, the society’s head of mortgages, said: “This is the latest example of how we are listening to feedback from brokers and direct customers, and adjusting our mortgage offering accordingly, as we continually seek to underline our mutual commitment to enabling homeownership for as many people as we possibly can.

“Our flexible and individual approach to underwriting means we can make our simple range of fixed and discounted-rate products available to a wide range of borrowers, including the self-employed, people borrowing in later life and families looking to collaborate on a purchase.”

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