The Teachers Building Society has reduced the rates on the majority of its mortgage product range.

There is also a new two-year discounted variable deal at 2.29% for loans up to 75% LTV.

The mutual has also launched new two-year fixed rate deals for loans up to 75% and 85% LTV, with rates of 2.49% and 3.59% respectively. Other deals on offer include a three-year fixed rate of 2.59% for loans up to 75% LTV.

The buy-to-let product from Teachers has seen the biggest cut, with a two-year discounted variable deal now available with a rate of 3.49% (down from 4.29%). There is also a broker exclusive No ERC two-year discounted variable product on offer, with a new rate of 2.59%.

Alan Gravett, head of sales and marketing at Teachers Building Society, said: “We are very pleased to be launching new two-year fixed rate deals and lowering rates on our existing range.

“Brokers are making a significant contribution to our mortgage business and we hope that these new rates will be well received by our intermediary partners.”