Virgin Money is launching new fix and switch deals tomorrow, while Halifax, BM Solutions, NatWest and Fleet Mortgages have announced rate cuts.
Halifax and NatWest’s price reductions relate to their product transfer rates following bespoke pricing.
BM Solutions reduces costs by up to 9 basis points on buy-to-let and let-to-buy deals.
Fleet Mortgages will tomorrow reduce rates on two- and five-year fixes in standard, limited liability companies, multi-occupancy houses and freehold multi-unit blocks.
It has not yet announced its new prices.
The lender is also launching three new HMO deals with free and fixed fees.
At Virgin Money, the new fix and switch deals include five-year deals with two-year early repayment charges.
In this range, a new five-year purchase agreement with a 90% LTV is 5.19% with a fee of £1,495.
A five-year fee saver deal with an LTV of 80% is 4.93%.
For remortgages, a five-year fix with a two-year ERC at an LTV of 75% is 4.85% and at an LTV of 85% it is 5.39%.
New buy-to-let rates start from 4.85% with a fee of £495 for a five-year deal with a two-year ERC at a 60% LTV.
Speaking about the lenders moving to bespoke pricing for product transfers, including Halifax and NatWest,
Aaron Strutt of Trinity Financial says: “Brokers are increasingly having to log into their clients’ accounts to check the rates they are being offered to stay.
“Existing customer deals are disappearing from product directories and purchasing systems as lenders move to more customized pricing to make it easier for them to retain customers based on their overall financial situation and repayment history.”