Colonial has launched two base rate tracker mortgages.
The first version is aimed at remortgages, while the second is designed for new purchases.
Version one offers borrowers a rate set at 0.9 per cent above the Bank of England. But this is discounted by 0.75 per cent for the first 12 months of the loan giving a current payable rate of 5.15 per cent.
Loans are available up to 75 per cent loan to value.
The rate on the second version is set at 1 per cent above the BoE's base rate. Loans are available up to 95 per cent LTV.
It also offers a 0.75 per cent discount for the first year.