Vida Homeloans, Precise and Gen H will be withdrawing their product ranges this week to revise prices, including some discounts of up to 30 basis points.
Vida has informed brokers that it will withdraw its entire product range, including new contracts and product transfer deals, at midnight tonight.
But instead of widespread price increases, this time it emerged that interest rates will fall by an average of 30 basis points when the new products come back onto the market tomorrow.
Precise has also notified advisers of a re-pricing, with all residential deals withdrawn at 5pm tomorrow and relaunched on Friday.
It says the new range will “offer a number of lower prices, in addition to the reintroduction of our lower LTV and lighter discount products”.
On April 8, Gen H cut interest rates on all its home loans by up to 25 basis points.
The five-year LTV rate of 85%–95% has fallen by 25 basis points.
The two-year rate on an LTV of 60%-80% has fallen by 20 basis points, as has the three-year rate for all LTVs.
The two-year 85%–95% LTV rate has been reduced by 15 basis points, and the lender’s New Build Boost rate has been reduced by 20 basis points to 6.14%, for an effective rate of 5.2%.
“I am very pleased to bring these cuts to the marketplace,” said Sara Palmer, Gen H director of sales and distribution.
“There has been so much uncertainty for both buyers and agents in recent weeks – this is a brief moment of reprieve where I hope customers can finally get the certainty they have been looking for.”
Earlier today, Foundation announced the launch of new limited edition buy-to-let deals.
But not all of the updates from lenders were positive.
Santander will increase product transfer prices by up to 32 basis points tomorrow, in the first announcement of a rate hike since the Easter holiday weekend.