ICS Mortgages has announced a reduction in their fixed rate mortgages for owner occupiers.

The reduction will apply from January 10th to three year and five year fixed rates for owner-occupiers and will start from 4.25%.

It said the cuts in new business fixed rates are designed to provide more affordable options for homeowners.

However, the new reductions are not for existing fixed-rate customers.

Ray McMahon, Chief Commercial Officer at ICS Mortgages, said this fixed-rate reduction builds on the variable rate cuts it announced in December for both owner-occupier and buy-to-let products.

"Whether through our direct channel or our extensive network of independent mortgage brokers nationwide, our goal is to provide flexible and tailored mortgage solutions that meet the diverse needs of our customers," he added.