Market Harborough Building Society (MHBS) has reduced its residential larger loan rates by up to 0.60% for loans between £3m and £5m.
The specialist lender has lowered its variable, 2, 3 and 5-year fixed larger loan rates, with tier one down by 0.35%, tier two by 0.60%, and tier three by 0.15%.
Rates for loans up to £3m remain unchanged.
The larger loan rates now start from 5.24% fixed and 5.59% variable for tier one cases, with a fixed product fee of £2,495.
The society will also cut its standard variable rate (SVR) by 0.20% to 7.39% from 1st October.
Iain Smith, head of mortgage distribution at Market Harborough, said: “We’ve significantly lowered rates across our larger loan range.
“This opens the door for more clients looking to borrow between £3m and £5m and ensures we’re well-positioned to support those borrowers with both simple and more complex circumstances, including high net worth individuals and expats.
“This follows a summer of enhancements across our residential solutions, which saw us acting on broker feedback to make it even easier for them to place their cases.”
