Bluestone Mortgages has lowered prices by up to 20 basis points across selected products.

These include a 15bps cut on 85% loan-to-value (LTV) two-year deals, alongside reductions of up to 20bps on 90% LTV two-year products and 15bps on 90% LTV five-year products.

Across the TML residential range, selected two-year and five-year products within the RL0 and RL1 tiers have been reduced by an average of 6bps, with cuts of up to 20bps on some products.

In addition, TML has removed its £150 application fee across its residential range, alongside expanded access to Limited Edition products and shared ownership rate cuts of up to 50bps.

Shawbrook commercial director of retail mortgages Steve Griffiths says: “We know affordability and upfront costs remain front of mind for both brokers and borrowers. By cutting rates, removing application fees where we can and widening access across TML and Bluestone Mortgages, our aim is to help brokers support customers with greater confidence in a challenging market.”