Accord Mortgages and Landbay are cutting rates this week by up to 24bps and 20bps, respectively.

Accord is trimming rates on its residential and buy-to-let ranges tomorrow.

The residential range will see cuts of up to 24bps on products at 75%, 80% and 85% loan-to-value (LTV), with selected mortgages also reduced by up to 9bps at 90% LTV. Rates at 95% LTV are increasing by up to 19bps.

For its buy-to-let range, the intermediary-only lender’s reductions include decreases of up to 7bps on products at 60%, 65% and 75% LTV.

Highlights include a two-year fixed rate at 4.24% (was 4.44%) for house purchasers up to 85% LTV, which comes with no fee, £300 cashback and free standard valuation.

Accord Mortgages product manager Aidan Smith said: “We’re so pleased to make these positive changes – which include passing on notable reductions to residential borrowers with a bigger deposit and improving our buy-to-let offering for landlords with a larger deposit, ensuring better value across a wide range of options for brokers and their clients.”

Meanwhile Landbay is today cutting its buy-to-let rates by up to 20bps across its Premier, Core and Specialist ranges.

Within its Premier range, rates have been reduced by up to 15bps covering two- and five-year fixed-rate products, including like-for-like remortgages, product transfers and five-year fixes with free valuation and assisted legal options.

Landbay’s Premier five-year fix with no fee is now available at 4.95%, previously 5.09%, while its five-year fix with a 3% fee is now available at 4.35%, down from 4.49%. Both products are available up to 75% LTV.

Also in the Premier range, Landbay has cut its five-year remortgage fixes, which are also available up to 75% LTV, and come with assisted legals and free valuations, to 4.97%, previously 5.09%.

These products feature a fixed fee based on the loan size, up to £750,000.

Within its Core and Specialist product ranges, which covers limited companies, holiday lets and small HMOs/MUFB, Landbay has reduced rates by up to 20 bps.

Landbay sales and distribution director Rob Stanton said: “The market has shifted again in recent weeks, and we have taken the decision to pass on further rate reductions across our range. We know brokers are working with landlords who are focused on managing costs and planning ahead with greater certainty, particularly those coming to the end of existing fixed rates.

“By cutting rates across our Premier, Core and Specialist, we are giving advisers more scope to place cases competitively, whether they are straightforward or more complex.”