The battle to offer competitive two-year mortgages has intensified with lenders launching a brace of new rates in recent days.
Hinckley & Rugby Building Society has cut the interest rate on its two-year discount mortgage to 2.15%.
And Brilliant Solutions has launched a new semi-exclusive range of prime mortgage products with the Furness Building Society, with rates starting at 1.75%.
Hinckley & Rugby has reduced the rate on its two-year discount mortgage to 80% LTV by 0.09%.
It now charges an initial 2.15%, with an overall cost for comparison of 5% APR. All other terms are unchanged.
Brilliant Solutions, the direct to lender mortgage club and specialist mortgage distributor, has launched a new semi-exclusive range of prime mortgage products with the Furness Building Society.
The deals start at only 1.75% and are available through Brilliant.
Managing director Matthew Arena said "This deal is available to any directly authorised broker through our club and any network broker that we have a relationship with.
"It's a fantastic product and the remortgage deals even come with free legals and free valuations. Our congratulations go to Furness Building Society which has done a great job delivering these deals to the intermediary market."
The mortgage deals, which are available for purchase and remortgage, are accessible by brokers through an exclusively limited route which includes Brilliant Solutions and two other businesses.
The product range has a maximum LTV of 70% and consists of two-year SVR discount deals.
Hinckley & Rugby is also launching a new five-year fixed rate charging 3.39% to 80 per cent LTV. Overall cost for comparison is 4.7%.
The five-year deal has a £295 arrangement fee and £1,895 completion fee. There is a free valuation and, like all Hinckley & Rugby mortgages, there are no only early repayment charges.
It lends throughout England and Wales, and works with directly authorised and appointed representatives.
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