CHL Mortgages for intermediaries has made cuts of up to 1.19%, while Aldermore and Vida Home Loans have also made rate reduction announcements.
The cuts from CHL Mortgages for intermediaries will apply across its short-term lets range of buy-to-let (BTL) products.
The range, which is suitable for borrowers who intend to let a property for a short period of time such as a holiday let or serviced apartment, features two-year fixed rate products from 4.39% and five-year fixed rate products from 5.24%, all at 75% loan-to-value (LTV).
Borrowers can choose between 3.5% or 5% fee options on the two-year fixed rate products and between 3.5%, 5% or 7% fee options on the five-year fixed rate products.
Meanwhile, Aldermore has reduced rates by as much as 0.40% on its BTL and residential owner occupier ranges for new and existing customers.
For new BTL business, the lender’s individual and company landlords’ single residential investment properties can get a two-year fixed rate up to 75% LTV reduced by 0.40% to start from 4.69%.
The five-year fixed product within that range has been lowered by 0.30% to start from 4.59%.
Multi property for individual and company landlords with residential investment properties will also see rates reduced by 0.40% on a two-year fixed deal up to 70% LTV with rates starting from 4.74%, while the five-year fixed deal has been reduced by 0.30% starting from 4.54%.
For existing BTL customers, HMO and multi-unit freehold including mutli property products have been reduced by 0.40% on a two-year fixed rate up to 80% LTV with rates starting from 6.49%.
Elsewhere, new customer residential owner occupier products have been cut by 0.20% on all two- and five-year fixes up to 80% LTV with rates starting from 5.24%.
For existing customers, all fixed rates have been reduced on residential owner occupier products up to 80% LTV by 0.20% with rates starting from 5.44%.
Aldermore director of mortgages Jon Cooper says: “My message to brokers is simple; don’t wait and act now to secure lower rates for your clients. Aldermore also offers industry-leading low fees, with real experts on hand to offer intelligent solutions.”
Specialist lender Vida Homeloans has also made rate cuts to its residential and BTL ranges including its product transfer range.
Selected residential and BTL products have been reduced by as much as 0.30% and selected residential and BTL product transfer products have been lowered by up to 0.10%.
The lender has also launched BTL limited editions on their Vida 36 credit tier.
The products are available at a five-year fixed rate, at 75% LTV and with a 7% product fee and are available for standard and HMO/MUB purchases.
In addition, there are new, 90% LTV fee saver products available on its residential range, available across all the credit tiers (Vida 36, Vida 24 and Vida 6) and for either a two- or five-year fixed term.
Vida Homeloans head of mortgage product management Ross Williams states: “We’ve seen swap rates in the market drop over the course of January. We always endeavour to pass these savings on to our potential customers through rate reductions across our ranges.”
