Atom Bank and Family Building Society have cut mortgage rates across their range, with reductions of up to 30 basis points and 25 basis points respectively.
The changes come as HSBC cut rates by up to 34 basis points today, joining a number of other lenders in making cuts, including Coventry and Leeds.
Atom Bank has reduced interest rates on its main mortgage offering by up to 25 basis points.
Products with an LTV of up to 85% have fallen by 20 basis points, while products with an LTV of 90% have fallen by 25 basis points. Rates with an LTV of 95% have fallen by 10 basis points.
Top rates now start from 5.29% for borrowers with a minimum 15% down payment. The lender’s main range includes two-, three- and five-year fixed rate options, including both no-fee and fee-backed products.
The cuts follow a recent 20 basis point cut in Atom Bank’s near-prime range and reflect improved swap market conditions.
Richard Harrison, head of mortgages at Atom Bank, said: “We are pleased to be following our Near Prime rate cuts with reductions across our Prime product range.
“Across the bank, we strive to provide excellent value and service to borrowers, whether they have a spotless credit record or the occasional hiccup.
“Following the recent turbulence, we are seeing a period of relative stability in the swap markets and are moving quickly to ensure brokers and their clients can benefit from more competitive rates.
“By lowering rates on our Prime range, we are offering an attractive range of options for all borrowers, backed by the speed and security that defines the Atom Bank experience.”
Family Building Society has also reduced rates across its buy-to-let offering, while reintroducing products with a 60% LTV.
Within reach of owners, the lender has launched a new range of fixed-rate products at a lower price point and restored lower LTV levels. It has also reduced two-year capital and interest products, in addition to its main two- and five-year interest-only deals.
Within the buy-to-let segment, two-year fixed rates have fallen by 25 basis points and five-year fixed rates by 15 basis points. Rates for existing customers, including product transfers and further advances, have also been reduced, with buy-to-let products falling by up to 25 basis points.
Darren Deacon, head of intermediate sales at the Family Building Society, said: “While it is anyone’s guess how long the fragile ceasefire will last, the relative stability in the Gulf is reflected in market sentiment, allowing us to make these rate cuts and reintroduce prices for lower LTVs.
“We fully understand the frustration our intermediary partners are currently experiencing, but I am hopeful that this new product range with extended and reduced rates will deliver welcome good news for borrowers and those looking to remortgage.”