Vida Homeloans and Precise are set to withdraw their product ranges this week to reprice, including some reductions of up to 30 basis points.

Vida notified brokers that it will be withdrawing its full product range including both new business and product transfer deals at midnight tonight.

But rather than widespread price increases, this time it revealed that rates will be dropping by an average of 30 basis points when the new products relaunch tomorrow.

Precise has also given advisers notice of a reprice, with all residential deals withdrawn at 5pm tomorrow and relaunched on Friday.

It says that the new range will “feature some reduced pricing, alongside the reintroduction of our lower LTV and lighter adverse products”.

Earlier today, Foundation announced the launch of new limited edition buy-to-let deals.

But not all lender updates have been positive.

Santander is raising product transfer prices by up to 32bps tomorrow, in the first rate hike announcement since the Easter bank holiday weekend.