Shawbrook Retail Mortgages has confirmed rate reductions across The Mortgage Lender (TML) and Bluestone’s residential products, as well as TML’s buy-to-let (BTL) offering.

The rate reduction for TML’s residential products applies to both the two-year and five-year fixed rate products for both purchase and remortgage applications, with rates starting from 5.49% and rates reduced by as much as 35bps.

On top of this, TML has introduced BTL rate reductions to its five-year fixed rate standard (individual/LTD company BTL) products. For example, rates for five-year fixed products with 5% completion fee now start from 4.41%.

In a similar vein, Bluestone Mortgages has announced a rate reduction of up to 25bps for residential purchase and remortgage products, with rates now starting from 5.99%.

Meanwhile, ModaMortgages is repricing its buy to let range.

The specialist lender is reducing rates by up to 40bps on selected products in its standard range, with prices for two year fixed rates now starting from 3.19% and from 4.79% for five year fixed rates.

The reprice will also see the introduction of specific small houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) products, with prices starting from 3.29% for two-year fixed rates and from 4.89% for five-year fixed rates.

Products are available to a variety of landlord types, including individuals and limited companies, and all feature free valuations and no application fee.

The news comes shortly after the lender announced it was accepting day one remortgages for bridge exit applications and boosting its maximum LTV to 80%.