Tandem Bank cuts residential rates by up to 0.96%

Tandem Bank has announced a significant reduction in rates for its residential first charge products, by up to 0.96%.

A two-year fixed product at 90% LTV is now available at 7.49% with a £1,495 fee.

The maximum loan amount is £750,000 up to 80% LTV and £500,000 up to 90% LTV.

Further rate discounts are available to borrowers across the entire product range for both new purchases and remortgages with an Energy Performance Certificate (EPC) rating of A, B, or C. For properties with an A, B, or C rating, clients can enjoy a further rate discount of up to 0.30%

In addition, the lender has revamped its criteria guide, makes it more accessible and user-friendly for mortgage advisers.

Roger Morris, sales and distribution director at Tandem Bank, commented: “Our commitment to providing transparent, accessible, and competitive mortgage solutions is reflected in these rate reductions and the simplified criteria guide.

"Let's turn dreams of homeownership into reality in 2024. Tandem supports aspiring homeowners - especially first-time buyers - recognising the challenges they face with rising rent, affordability concerns, credit hurdles, and the complexities of varied income sources. We're excited to continue our journey of establishing our presence in the specialist residential lending sector, dedicated to making the path to homeownership more accessible for all."