Tim Franklin, managing director of Member Business, said: "Britannia never offers better deals to new customers as we prefer to reward membership. Our members always come first, so it's only fair that we offer our lowest rates to our existing, loyal members."
Britannia's fixed rate mortgages give borrowers a choice of rates, based on the LTV required and the upfront arrangement fees.
The society has also reduced the rates on its three-year fixed-rate mortgages for new customers by 20 basis points, with rates now starting at 4.24%, on a 60% LTV with a £549 arrangement fee.
The latest cuts follow the recent introduction of a new 15 year fixed-rate mortgage from Britannia. The long-term fix allows customers to review the product every three years when they can switch to another Britannia mortgage, overpay by any amount, or redeem without charge. This gives borrowers stability in the current uncertain market, but flexibility if the market, or their circumstances, change.
