Keystone made the biggest cuts with rates on some deals down by up to 25 basis points.

Its reprice included reductions on its summer specials range, as well as on deals for houses in multiple occupation, multi-units, expats and more.

Following the changes, its two-year fixed rates now start from 3.54% and five-year fixed rates 4.59%.

BM Solutions has reduced rates by up to 16bps.

Its biggest price cuts include:

• A fee-free five-year fixed rate for purchase at 75% LTV down by 16bps from 4.95% to 4.75%
• An equivalent deal with a £1,499 fee down by 16bps from 4.74% to 4.58%

Landbay has also cut BTL rates by up to 40bps and Aldermore has launched new products.

It comes as Moneyfacts revealed today that average fixed rates are around 100bps lower than they were a year ago when the Bank of England base rate was first increased to 5.25%.