As part of enhancements to the lender’s product portfolio, Freedom has reduced the pricing of its two and three-year fixed rate deals, to 5.73 per cent.
Its buy-to-let products have also been reduced, with rates starting at 5.68 per cent. Its buy-to-let offers, based on rental and earned income, have also been made available from 5.88 per cent.
Mel Dring, marketing manager at Freedom, admitted the changes had been made following swap rate movement. She said: “Falling swaps mean we have been able to move quickly and pass on the benefits to brokers and borrowers.
“Many lenders are still reviewing their fixed rates, but we have been able to move swiftly. This indicates Freedom’s desire to be among the most competitive in the market.”
Andy Pratt, chief operations officer at Alexander Hall, welcomed the changes to the range. He said: “For the target market it is interested in, these rates are competitive. From our perspective, anything that makes things less expansive for the customer is good. These products will allow intermediaries to offer near-prime rates to customers who have slight adverse credit histories.”
