The Mortgage Works (TMW), Fleet Mortgages, Vida Homeloans and Virgin Money have all announced rate cuts this week across buy-to-let and residential products.
These lenders are also launching new deals and withdrawing an existing range.
TMW will cut rates by up to 0.26bps across selected two-, three- and five-year fixed-rate products from 17 June. The reductions apply to both buy-to-let and limited company buy-to-let ranges for new and existing customers.
Among the changes, TMW’s two-year fixed-rate buy-to-let remortgage product, available up to 65% loan-to-value (LTV) with a 3% fee, will fall by 0.10bps to 3.49%.
The same rate reduction will apply to its existing customer switcher equivalent.
Meanwhile, a two-year fixed-rate limited company buy-to-let product, available up to 75% LTV with a £3,995 fee, will be reduced by 0.26bps to 4.98%.
Fleet Mortgages has also announced reductions across selected buy-to-let products, effective from 9am on 17 June.
The lender is cutting rates by 20bps on its two-year fixed-rate 75% LTV HMO and MUFB product with a 3% fee, including EPC A-C variants.
In addition, five-year fixed-rate products at 75% LTV with a 3% fee will be reduced by 10bps across its standard, limited company and HMO/MUFB ranges, including EPC A-C options.
Meanwhile, Vida Homeloans has confirmed it will withdraw its entire new business and product transfer mortgage ranges at 11:59pm on 17 June ahead of the launch of a new fixed-rate range on 18 June.
The lender said decisions in principle with a selected product must be completed before the withdrawal deadline.
Cases must also reach ‘Application Received’ status by 5pm on 23 June, with all fees paid and mandatory documents uploaded, to ensure they can proceed.
Vida Pathway products will continue to be temporarily exempt from the usual £195 assessment fee.
Virgin Money is also cutting rates across its residential and buy-to-let offerings.
For purchase customers, selected two-year fixed rates will fall by up to 0.17bps, five-year fixes by up to 0.10bps and ten-year fixes by up to 0.06bps.
Shared Ownership fixed rates will also be reduced by up to 0.17bps.
Remortgage customers will see cuts of up to 0.22bps on selected two-year fixes, up to 0.12bps on five-year products and up to 0.09bps on ten-year deals.
In the buy-to-let product transfer range, selected two-year fixed rates will be reduced by up to 0.15bps, three-year fixes by up to 0.10bps and five-year products by up to 0.11bps.
