HSBC cut rates by up to 10 basis points today, Kensington by up to 25bps and Principality cut rates by up to 50 basis points tomorrow.
HSBC has reduced rates for first-time buyers, home movers, mortgages and buy-to-let deals today.
Its biggest reduction of 10bps is on a two-year fixed to buy-to-let at 85% LTV (no down payment), which drops to 4.77% with a £250 return, rising to £600 for an energy-efficient home.
In the Principality, some of the biggest cuts will be in residential deals, including getting higher loan-to-value rates.
Five-year fixed rates for 80% LTV products will drop to 50bps and for 85% LTV, they will drop to 46bps.
And for residential borrowers, two-year fixed LTV and 85% LTV products will be reduced by up to 44bps.
There are many other reductions, including lower LTV ranges, single borrower joint deals, one-year self-service options and new construction loans.
In Kensington, today’s rate cuts apply to the lender’s entire buy-to-let range, including Prime, Prime eKo, foundation, houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
Within the Prime range, two-year fixed rates at 75% LTV now start from 3.49% with a 5% down payment.
Other options are available from 4.14% with 3% cash and 5.63% without cash.
Five-year fixed rates at 75% LTV now start from 4.59% with a 5% down payment.
Other options are available from 4.82% with 3% cash, 5.12% with £4,000 cash, 5.22% with £1,499 cash and 5.34% with no cash.
Kensington has also reduced prices across its Prime HMO and MUB range, which is available in England, Scotland and Wales.
Five-year fixed rates at 75% LTV are now available from 4.84% at 5% and 5.09% at 3%.
The lender has also reduced rates across its Prime eKo range.
Available in buildings with an EPC rating of A, B or C, Prime eKo products are priced 5bps less than similar Prime products.
Commercial director Andy Bickers says: “These latest changes to our BTL range strengthen our proposition across a wide range of landlord needs, from standard investment properties to HMOs and MUBs.
“However, competitive pricing is only part of the picture.
“Brokers also need to be confident that cases will be dealt with quickly and efficiently.
“That’s why Kensington continues to prioritize providing market-leading customer support, with customers able to access one of our BDM desks in less than a minute on average.
“Once a case is filed, every broker is supported by an authorized underwriter who communicates directly with them and remains a consistent point of contact throughout the application process, helping cases progress as smoothly and quickly as possible.
“We’re focused on making Kensington a lender they can rely on, whether that’s through competitive pricing, exceptional technology or responsive support.
“By bringing all three together, we help brokers secure the right solutions for their homeowner clients and proceed with cases with confidence.”
