Multiple lenders have today cut rates across their mortgage ranges, some significantly.

HSBC UK has made rate cuts of up to 0.25% on specific mortgages and says all of its purchase and first-time buyer rates are under 5% for the first time since 2022.

Highlights of the changes include rate reductions on the lender’s residential mortgages of up to 0.20% and up to 0.25% for international mortgages.

A remortgage for two-years at 60% LTV now comes in at 3.89% for non-premier and 3.84% for premier customers, with a fee of £999.

For residential purchase, rates now start at 4.99% for two years at 95% LTV with no fee.

Buy-to-let lender Landbay has also made rate cuts of up to 0.25% across its non-portfolio product range.

Rates in the range now start at 4.09% for a five-year fix up to 75% LTV.

The lender’s standard five-year fix rate 55% LTV products have also been reduced by 0.25%, now starting at 4.19%.

All products come with a variable fee structure.

Landbay sales and distribution director Rob Stanton says: “Our recent data has demonstrated the appetite that still exists among landlords to invest in property. As a BTL lender, we’re not doing our job if we’re not making sure we support every corner of the market with relevant products and competitive rates. It’s great to be able to bring reductions to our non-portfolio range, which remains hugely popular as it answers a clear need and demand in the market.”

Meanwhile, Coventry for intermediaries has reduced select fixed rates by up to 10 bps on residential, buy-to-let and limited company BTL rates.

Following the cuts, a two-year fix at 65% LTV starts at 3.96% for residential purchase, with a fee of £999.

A five-year fix for BTL remortgage, also at 65% LTV starts, at 4.29% with a £1999 fee.

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “We’re starting to see more rates dip below 4%, which is a positive sign for homebuyers and a welcome shift for brokers supporting them.”