Market Harborough cuts fixed rates

Rates are lowered by up to 20bps

Market Harborough cuts fixed rates

Market Harborough Building Society (MHBS) has made reductions of up to 20 basis points in its residential and let fixed rates.

The reprice includes a 0.20% cut in both two- and three-year fixed rates, while five-year fixed rates across the mutual’s specialist lending range — encompassing expat, let, holiday let, and multi-generation loans — have been lowered by 0.15%.

New residential rates are now set at 6.40% for variable and 5.45% for three-year fixed, applicable up to 60% loan-to-value (LTV) and subject to a £995 product fee.

MHBS’s lending options are structured in tiers based on case complexity, with simpler scenarios such as lending into retirement, joint borrower sole proprietor arrangements, second homes, and straightforward annexed applications falling into the lower tier.

The lender has also built a reputation for tackling complex mortgage cases, offering solutions for borrowing amounts ranging from £200,000 to £3.5 million.

Aside from product rate reductions earlier this year, MHBS has also improved its product switch process for brokers, streamlining the procedure for clients’ transitions and introducing a 0.30% procuration fee for both residential and let cases.

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