Tandem Bank has cut the rates of its residential second charge mortgage products by up to 90 basis points (bps). This adjustment is not just minor tweaking; a reduction of up to 90bps can translate into significant savings for borrowers over the term of their mortgage.

Special Incentives for Energy-Efficient Homes

Encouraging Greener Living

• In a push towards more environmentally friendly living, Tandem has introduced further incentives for properties with high Energy Performance Certificate (EPC) ratings.
• If you own a property with an A, B, or C EPC rating, you’re in for additional perks. Tandem is offering an extra rate discount of up to 0.50% for these energy-efficient homes.
• This initiative aligns with Tandem’s commitment to support UK consumers in transitioning to greener homes, modes of transport, and overall lifestyle choices.

A Continuation of Competitive Cuts

These latest cuts follow on the heels of Tandem’s recent rate reductions across their residential first charge products, which saw a drop of up to 0.96%.

This pattern of rate reductions indicates a broader strategy by Tandem to offer more competitive and affordable mortgage products in the market.

Nigel Brookes, the Head of Distribution for second charge at Tandem, expressed optimism about this development, “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.”