Tandem cuts second charge mortgage rates by up to 90bps

Tandem has announced significant rate reductions across its residential second charge mortgage products, by up to 90bps.

Further rate discounts are available to borrowers across the entire product range for properties with an Energy Performance Certificate (EPC) rating of A, B, or C.

For properties with an A, B, or C rating, customers can enjoy a rate discount of up to 0.50%, aligning with Tandem’s goal to help UK consumers transition to greener homes, transport and lifestyles.

The reductions follow recent cuts of up to 0.96% across Tandem's residential first charge products.

Head of distribution for second charge, Nigel Brookes, said: “This is positive news for second charge brokers and their customers. These rate reductions will continue to help brokers deliver good customer outcomes and help clients manage ongoing cost of living challenges.

"This is the first of many positive steps forward Tandem Bank will take in 2024."