Coutts and Coventry improve pricing on their tracker rate mortgages
Coventry for Intermediaries and Coutts private bank are the latest lenders to reduce the price of their tracker rate mortgages.
Coventry's tracker rates are up to 0.17% cheaper while Coutts' two-year Offset tracker mortgage has decreased by 0.75%.
Aaron Strutt, product director at Trinity Financial, says: "Over the years the vast majority of borrowers have taken two, three or five-year fixed rates because they were the most attractive options.
"Mortgage lenders are now offering variable and discounted standard variable rates that are cheaper than many fixed rates. However, if the Bank of England base rate increases these rates will almost certainly be more expensive. Borrowers need to weigh up much higher they think the base rate will go."
Accord Mortgages has also reintroduced a range of discounted variable rate mortgages.
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