Newbury Building Society has announced a round of mortgage rate reductions, potentially saving borrowers thousands of pounds in interest.

The reduced rates apply to a range of mortgages for different types of borrowers, including:

Standard residential mortgages:

• Three-year fixes: Now available from 4.64%, down from 4.89%
• Five-year fixes: Now available from 4.39%, down from 4.69%

These rates apply to mortgages where the loan is 75% or less of the property value.

Shared ownership mortgages:

• Two-year fixes (85% LTV): Down from 5.29% to 5.09%
• Three-year fixes (95% LTV): Down from 5.59% to 5.39%

Existing borrowers:

• Three-year fixes (75% LTV): Now 4.54%, reduced from 4.79%
• Three-year fixes, shared ownership (95% LTV): Reduced from 5.49% to 5.29%

Buy-to-let, expat and bespoke mortgages:

• Three-year fixes (‘Made to Measure’): Cut from 5.29% to 4.99%
• Five-year fixes (BTL Ltd Co): Down by 0.25% to 5.64%
• Five-year fixes (expat BTL): Reduced from 6.29% to 5.64%

Roger Knight, product manager for mortgages at Newbury Building Society, said: “At the society, we take pride in our reputation as a flexible lender. We hope that the reductions we’ve made on some of our limited company buy-to-let, expat, and made to measure products will support borrowers with more complex or unusual mortgage needs.”