The banking group has also trimmed rates by up to 15bps across Halifax and BM Solutions’ current range.

The new Loyalty Premier products are available now on the intermediary website and offer a discount of 20bps on the equivalent Halifax rate.

For example, the lowest two-year rate for homebuyers is 4.33% for core Halifax borrowers, but 4.13% for Lloyds Premier customers.

The Premier Loyalty products have their own codes for brokers to use.

At the same time, Halifax has cut fixed rates for homemovers and first-time buyers, while BM has lowered buy-to-let purchase and remortgage deals.

Last week, Lloyds Banking Group revealed it was axing the 173-year-old Halifax brand with all mortgages soon to appear under the Lloyds’ banner.

The changes come amid a wave of lenders cutting prices in the past 24 hours, including Nationwide, with reductions of up to 19bps taking effect today.

Kensington Mortgages has also cut rates by up to 40bps today.

Summing up the latest lender moves, John Charcol mortgage technical manager Nicholas Mendes says: “Nationwide is leading with cuts of up to 19bps on fixed and 12bps on trackers, effective today.

“Virgin Money is moving in the same direction, up to 16bps off remortgage two-year fixed.

“BM Solutions and Halifax are both trimming up to15bps on their core ranges from today, and layering in a 20bps discount for Lloyds Premier customers on top.”

Mendes adds: “The big story in the swap market is that one-to-five-year SONIA swaps are now all sitting below 4%, with two-year at 3.913% and five-year at 3.999%, down from 4.159% and 4.176% respectively in early June.

“That’s a hugely positive signal for the market.

“Sub-4% funding across the short and medium end gives lenders genuine room to compete for business, and today’s lender cuts show exactly that playing out, with arguably a little more to come if swaps hold at these levels.

“Six lenders repricing inside 24 hours tells you nobody wants to be left looking expensive going into the second half of the year, particularly with remortgage volumes picking up.

“Coventry is the outlier, nudging some residential fixed rates up while cutting BTL, which shows it’s not a uniform race to the bottom.”

Mendes says borrowers should not try and time the absolute bottom of the market for rates, as this can end up costing more than it saves.

Mortgage Advice Bureau strategic lender relationships director Rachel Geddes says: “This latest spate of rate reductions is a positive start to the week for borrowers, with lower fixed and tracker rates across a range of products offering greater choice for first time buyers, homemovers, and remortgagers.”