Nationwide, Virgin Money, BM Solutions and Halifax have moved to cut mortgage rates, as independent mortgage brokerage John Charcol said sub-4% SONIA swaps were giving lenders “genuine room to compete for business”.
Brokers no longer need to complete separate submissions when arranging a new deal and additional borrowing for existing landlord clients.
Halifax will reduce fixed rates for homemovers and first-time buyers (FTBs) by up to 0.35% from 17th April.
For personal ownership buy-to-let and let-to-buy products, 2-year fixed rates will increase by up to 0.15%.
Among the lenders announcing updates are Halifax, BM Solutions, Pepper Money, Skipton Building Society, Allica Bank, Atom Bank and Coventry Building Society.
The lender is introducing new 2-year tracker products for Personal Ownership buy-to-let and let-to-buy customers.
For personal ownership buy-to-let and let-to-buy, selected fixed rate products will see reductions of up to 0.29%.
Applications on existing products must be fully submitted before 8pm today, 3rd November.
Leigh Church said: “This launch represents a significant addition to our commitment to delivering exceptional service and support to our clients.”
On BTL purchase products, the 2-year fixed at 80% loan-to-value (LTV) is now 5.66%, down by 0.30%.
BM Solutions has cut selected buy-to-let remortgage fixed rates by up to 0.24%, with updates across green and standard 5-year products.
Brokers have been advised to ensure all applications on current products are fully submitted before 5pm on 14th June.