Market Harborough cuts larger loan rates by up to 0.26%

Market Harborough Building Society has announced that it has reduced its residential larger loan rates by up to 0.26% for loans between £3m and £5m.

The lender’s variable and two, three, and five-year fixed rates for larger loans have been adjusted as follows:

Tier one rates: down 0.21%

Tier two rates: down 0.26%

Tier three rates: down 0.11%

Standard residential rates for loans up to £3m remain unchanged.

Larger loan rates now start from 5.19% fixed and 5.24% variable for tier one cases, with a fixed product fee of £2,495.

Iain Smith (pictured), head of mortgage distribution at Market Harborough, said: “Our latest rate reductions across our larger loan range open the door for more clients looking to borrow between £3m and £5m."

"It ensures we’re well-positioned to support those borrowers with both simple and more complex circumstances, including high-net-worth individuals. We’re always listening to broker feedback and these cuts are part of our promise to stay responsive, flexible and easy to do business with.”