Preferred launches two and three-year fixes

Key highlights:

* Rates from 5.69% - rate cuts across the range

* 2 year Fixed Rates until 1st January 2008, with no extended tie in*

* 3 year Fixed Rates until 1st January 2009, with no extended tie in*

* New flexible 'either or' option on our Unlimited range

* No remortgage loading up to 80% LTV

* RTB loading cut substantially across the range

* RTB and BTL now available on Near Prime

* New 65% LTV band

* Simplified maximum mortgage offering

Cate Hillis, Head of Product Development, says: 'Our recently repositioned Core Range has met with an excellent response from the market, so we're very pleased to be launching our new Fixed Rates so soon afterwards. We have made substantial rate cuts across the range and are delighted to be passing the benefit directly to the customer.'

* subject to one month's written notice