Market Harborough Building Society has announced it will reduce a range of its mortgage rates starting 1 July.

Brokers were cautioned against recommending two-year fixes in the expectation that rates will be lower in two years' time.

New Build Boost launched in March as a private sector alternative to Help to Buy.

The lowest rates now start at 5.14% for a two-year fixed term.

Professional mortgage rates have seen the largest reductions.

The bank has reduced two and five-year fixed rates at 85-95% LTV. 

The lender has launched new two-year fixed rates to support credit impaired borrowers.

The lender is also contributing up to £500 towards legal costs for all bridge-to-let loans.

Standard two-year fixed rates now start from 2.94%.

The lender has also introduced new residential purchase exclusives.