NatWest has cut rates by up to 36 basis points, while Paragon Bank lowers rates by 30bps and Fleet Mortgages has reduced rates by as much as 25bps.
NatWest has made rate changes to its new business, existing customers and additional borrowing product ranges and end dates.
For new business, remortgage products have been reduced by up to 36bps and 25bps on selected two- and five-year deals.
Remortgage high value products have also been lowered by 36bps and 24bps on selected two- and five-year deals.
The lender’s green remortgage range selected two- and five-year deals have been cut by as much as 36bps and 16bps.
Purchase two- and five-year deals have also been reduced by up to 16bps and 10bps.
Elsewhere, Paragon Bank has taken 30bps off its range of two-year fixed buy-to-let (BTL) mortgages, with rates starting at 3.34%.
The 3.34% rate is available at up to 70% loan-to-value (LTV) for single self-contained (SSC) properties with energy performance certificate (EPC) ratings of A to C.
These products are subject to interest coverage ratios of 5.50% and a 5% fee.
The lender is also offering two-year fixed-rates at up to 75% LTV for the purchase or remortgage of SSCs.
Rates start at 4.34% on green mortgage products, and rise by 5bps for homes with lower EPC ratings of D or E.
A nil fee option is also available with rates starting at 5.84%. These products have ICRs set at two percentage points higher than initial rates.
Corresponding products are also available for houses of multiple occupation (HMO) and multi-unit block (MUB), with rates set at 3.59% on the 5.00% fee product, 4.59% on the 3% fee and 6.09% on the zero fee mortgage.
The products come with a free valuation and are subject to a £299 application fee.
They are suitable for landlords purchasing or remortgaging properties as individuals or through limited company structures in England, Scotland and Wales.
Paragon Bank mortgage product manager James Harrison comments: “We’re really pleased to reduce rates on two-year fixes, taking 30bps off across the range. It’s great to be able to offer landlords rates that start at 3.34%, our lowest for almost three years.”
Meanwhile, Fleet Mortgages has lowered rates by up to 25bps on all five-year HMO and MUFB fixed rates and its EPC A to C variation.
The BTL lender’s 65% LTV five-year fixed rate has been reduced by 20bps to 5.59%, with the 75% LTV also reduced by 20bps to 5.69%.
Both products come with a fixed fee of £3,999.
The 75% LTV five-year fixed rate with a 3% fee (minimum of £750) has been cut by 15bps to 5.39%, while the 3% fee EPC A to C product has also been reduced by 15bps to 5.29%.
The zero fee 75% LTV five-year fixed rate has been lowered by 25bps to 5.89%.
Fleet Mortgages chief commercial officer Steve Cox says he’s “pleased to be able to reduce pricing across all our five-year fixes, at both 65% and 75% LTV, by up to 25 basis points”.
“This will help borrowers with their affordability, and provides advisers with an increasingly competitive product offering for those landlord clients either seeking to purchase or refinance their HMO or MUFB properties.”
These cuts follow the news last week that fixed rate mortgage cuts were back on the agenda of prominent lenders and by notable margins.
