Other major lenders, including Barclays, HSBC, and Nationwide, have also implemented rate cuts recently as competition in the market intensifies.
Meanwhile, The Mortgage Lender (TML) has also joined the wave of reductions, specifically targeting its buy-to-let borrowers.
TML has reduced rates by 10bps across its five-year fixed 75% loan-to-value (LTV) products and portfolio multi-loan offerings. The product with a 5% fee now stands at 4.96%, while the one with a 2% fee has dropped to 5.62%.
The lender has reintroduced its buy-to-let fee saver product, which includes no completion, application, or transfer fees, with rates starting from 6.06%.
April Mortgages has also reduced rates on its long-term fixed rate mortgages by up to 10bps, with the five-year fixed rate now starting at 4.80%, the 10-year at 4.85%, and the 15-year at 4.95%.
