Nottingham Building Society is cutting some rates by up to 21 basis points and Coventry is also making price reductions on Thursday, in the first significant reductions to be announced for weeks.
At Nottingham, new customer deals for residential borrowers will be lowered by up to 21bps.
The lender is also dropping rates for limited company buy-to-let by up to 20bps for both new customers and product transfers.
Plus, it is launching new deals for standard buy-to-let borrowers.
Meanwhile, Coventry is making a number of rate reductions, but it has not revealed the scale of cuts.
It temporarily withdrew all of its new customer products from sale just over a week ago, on Sunday March 22, due to “market conditions”.
It relaunched deals the following Friday, March 27, with price increases of up to 75 basis points.
Today it is giving brokers notice that some deals will reduce on Thursday.
Coventry says that all two and five-year fixed rates for first-time buyers will be trimmed.
It will also be lowering all limited company buy-to-let fixed rates for new borrowers.
The reductions come as figures from Moneyfacts revealed that the average two-year fixed rate is now 101bps higher than it was before the outbreak of war at 5.84% this morning.
Other lenders continue to raise prices, including Halifax and BM Solutions, which have scheduled increases of up to 15bps to take effect tomorrow, and Accord with hikes of up to 20bps on buy-to-let deals.
