HSBC has cut rates by up to 10 basis points today, Kensington by up to 25 basis points and Principality will cut rates by up to 50 basis points tomorrow.
HSBC has today reduced rates for first-time buyers, home movers, home refinancings and buy-to-let refinancings.
The largest reduction of 10 basis points occurs on a two-year purchase with an LTV of 85% (no fees), which equates to 4.77% with £250 cashback, rising to £600 for an energy efficient home.
In the Principality, some of the biggest reductions will be on residential deals, including some with higher loan-to-value.
Five-year fixed interest rates for products with an LTV of 80% will decrease by a maximum of 50 basis points and for an LTV of 85% by a maximum of 46 basis points.
For retail borrowers, the two-year fixed 80% and 85% LTV products are also expected to be reduced by up to 44 basis points.
There are plenty of other reductions, including lower LTV levels, sole proprietorship deals with joint borrowers, one-year self-employed options and new build mortgages.
At Kensington, the current rate cuts apply to the lender’s buy-to-let range, including Prime, Prime eKo, core, multi-occupancy houses (HMOs) and multi-unit blocks (MUBs).
Within the Prime range, two-year fixed interest rates with an LTV of 75% now start from 3.49% with a 5% fee.
Alternative options are available from 4.14% with a 3% fee and 5.63% without fees.
Five-year fixed rates with an LTV of 75% now start from 4.59% with a 5% fee.
Further options are available from 4.82% with a 3% fee, 5.12% with a £4,000 fee, 5.22% with a £1,499 fee and 5.34% with no fees.
Kensington has also reduced rates on its Prime HMO and MUB range, which is available in England, Scotland and Wales.
Five-year fixed interest rates with a 75% LTV are now available from 4.84% with a 5% fee and 5.09% with a 3% fee.
The lender has also reduced rates on its Prime eKo range.
Prime eKo products are available on properties with an EPC rating of A, B or C and are priced 5 basis points lower than comparable Prime products.
Commercial director Andy Bickers says: “These latest changes to our BTL range strengthen our proposition for a wide range of landlord needs, from standard investment properties to HMOs and MUBs.
“However, competitive rates are only part of the picture.
“Real estate agents also need the confidence that matters will be handled quickly and efficiently.
“That’s why Kensington continues to prioritize providing market-leading broker support, with brokers able to reach one of our agency BDMs within a minute on average.
“Once a case is submitted, each broker is supported by a dedicated mandated underwriter who contacts them directly and remains a consistent point of contact throughout the application process, ensuring matters run as smoothly and quickly as possible.
“Our focus remains on making Kensington a lender that brokers can trust, whether that is through competitive pricing, specialist expertise or responsive support.
“By combining all three, we help agents find the right solutions for landlords and continue business with confidence.”