West One Loans has reduced rates to its first charge buy-to-let (BTL) fixed rate products while HSBC has lowered rates to its residential and BTL range.

West One Loans’ changes include reductions to its standard five-year fixed rate of between five basis points and 15bps.

The lender will also make cuts of between 20bps and 25bps on standard two-year fixed rate, specialist two-year fixed rate (above or next to commercial) and specialist two-year fixed rate (small houses of multiple occupancy /multi-use freehold blocks).

Rates will also be lowered for the specialist five-year fixed rate on small HMOs/MUFB.

W2 and W3 products will reduce by 15bps and 10bps respectively and two-year fixed rates will now start from 2.84% with five-year fixed rates starting from 4.29%.

The lender has also made criteria changes on its core range including increasing the maximum loan size to £3m gross on standard and specialist product range. There will also be more flexibility on applications on behalf of foreign nationals and expats.

Meanwhile, HSBC has made changes across various residential and BTL products, effective tomorrow (23 July).

These include:

• Existing residential customer switching
• Existing residential customer borrowing more
• Residential First Time Buyer / Home mover
• Residential First Time Buyer / Home mover Energy Efficient Home (A & B EPC Rated Properties)
• Residential Remortgage
• Residential Remortgage Cashback
• Residential Remortgage Energy Efficient Home (A & B EPC Rated Properties)
• Residential remortgage cashback Energy Efficient Home (A & B EPC Rated Properties)
• BTL existing customer switching / Borrowing more
• BTL Remortgage
• International residential