West Brom Building Society has made reductions to deals at 80% and 90% loan-to-value, strengthening its first-time buyer range.

The lender’s two-year fixed rate at 90% LTV has come down from 4.42% to 4.19% with no fee.

It has also launched a 3.99% two-year fixed at the same LTV with a £1,499 fee.

Kensington has lowered rates by up to 10 basis points on buy-to-let products and by up to 7bps on residential deals.

Following the changes, in its residential range, two-year fixed rates now start from 4.79% with a £1,999 fee and five-year fixed rates from 5.01% with a £1,499 fee.

In its buy-to-let range, at 75% loan-to-value it is now offering two-year fixed rates from 5.23% with no fee or 4.56% with a £4,000 fee.

At the same LTV, it now has a five-year fixed rate at 4.72% with a £4,000 fee and at 4.87% with a £1,499 fee, with free valuations on all buy-to-let products.

Within its eKo range, Kensington has removed its £500 cashback offer for residential and buy-to-let borrowers and instead applied rate cuts of 5bps on selected products, following feedback from brokers.

Meanwhile, at Precise, bridging rates have fallen by 5bps across all regulated standard, light refurbishment and heavy refurbishment products, with prices now starting from 0.57%.

Foundation is also set to reprice, as brokers have been warned that the majority of buy-to-let products will be withdrawn at 5.30pm today ahead of changes.

Commenting on the changes at West Brom, mortgage product manager John Phillips says: “These changes are all about giving first‑time buyers and home movers more choice at a time when affordability really matters.

“Reducing our 90% LTV rates makes it easier for people with smaller deposits to take that first step towards buying their own home, while our new fee‑paying option supports borrowers with higher loan sizes who want access to an even lower rate.”

Speaking of Kensington’s rate reductions, the lender’s commercial director Andy Bickers says: “We regularly engage with our broker partners to ensure our propositions are aligned with what matters most to their clients.

“Feedback told us that, particularly in the current market, lower rates would deliver greater long-term value than cashback, which is why we’ve refreshed our eKo range with reduced pricing across selected products.”

“Alongside these changes, we’ve also taken the opportunity to lower rates across our wider residential and buy-to-let ranges, giving brokers access to more competitive pricing across a broad set of customer needs.”