TSB and West Brom are cutting prices, with some deals falling by as much as 26 basis points.
At TSB, the biggest cuts are on two-year fixed residential interest rates at a loan-to-value rate of up to 75%, falling by up to 20 basis points.
Five-year fixes for purchases up to 95% LTV are also reduced by the same margin.
The two-year fixed home purchase interest rate between 75% and 85% LTV without costs decreases by 15 basis points.
The same products in the 85%-95% LTV level also decline by 15 basis points.
Two-year fixed home purchase rates, including affordable homes, with an LTV of 85% to 95% with up to 15 basis points.
TSB will also reduce selected remortgage interest rates tomorrow.
Two-year deals with an LTV of 60% and 90% drop by up to 15 basis points.
At West Brom Building Society, reductions on selected core and new-build mortgages within the range of new homes came into effect today.
A fixed LTV of 90% over two years for first-time buyers and movers with a fee of £999 has been reduced by 22 basis points from 5.3% to 5.08%.
At an LTV of 95%, the two-year fix for starters and movers has been reduced by 26 basis points without costs from 5.84% to 5.58%.
Within the new build offer, a two-year mortgage with a 90% LTV fixed purchase and a fee of £999 has been reduced by 23 basis points from 5.81% to 5.58%.
West Brom product manager John Phillips said: “Our focus has always been on putting the customer first, and these latest rate cuts are designed to deliver even more value to borrowers entering today’s housing market.
“We know affordability remains an important consideration, especially for first-time buyers and home movers with smaller deposits, so it’s important that we continue to offer competitive options that support a wide range of needs.
“By reducing rates across both our core and new build ranges, we are helping customers and brokers access products that offer strong value and greater confidence when making longer-term financial decisions.”
It comes as experts warn that uncertainty over the Prime Minister’s future could lead to more volatility in mortgage rates.