Santander has reduced select residential purchase two- and five-year fixed rates at 85% to 95% loan-to-value (LTV). 

The cuts include the bank’s 90% LTV home mover five-year fixed rate with a fee of £999 and £250 cashback at 4.40%.

For first-time buyers, all 85% to 90% LTV two- and five-year fixed rates have been cut by up to 0.15%, while the 95% LTV five-year fixed rate has been lowered by 0.22% to 4.85% with no fee and £250 cashback. 

Santander has also reduced two- and five-year remortgage fixed rates by as much as 0.10%.

For product transfers, selected residential and buy-to-let two- and five-year fixed rates have been cut by up to 0.10%. 

Meanwhile, LendInvest has lowered prices on all of its buy-to-let (BTL) products by 10 basis points.

The changes mean the lender’s lowest rates will start at 3.44% on a two-year fixed term.

The rate reduction will cover the entire BTL range, including expats, bridge-to-lets and product transfers.

The lender will also be contributing up to £500 towards legal costs for all bridge-to-let loans.

Elsewhere, Hodge has reduced select rates across its holiday let mortgage range for both new and existing customers. 

The specialist lender has reduced its two-year fixed rate holiday let products by 0.20% for new business and 0.15% for retention products. 

Last month, Hodge eased affordability stress rate calculations, which will allow it to grant loans that are almost 20% larger for average customers.