There has been a ‘flurry of activity’ in the mortgage market this afternoon with three more lenders repricing their rates.

MPowered, Clydesdale Bank and Halifax Intermediaries all followed Barclays in reducing rates today.

Clydesdale Bank is reducing selected rates and launching new customer products tomorrow.

New offers include fixed rate professional purchase for new customers.

The two-year fixed rate up to 85% LTV will be launched at 6.10%, while its five-year fix up to 85% LTV will launch at 5.29%.

These deals are available for loan sizes between £150,000 and £1m.

Clydesdale is also reducing rates on its large loan deals, with a two-year fix at 65% LTV reducing by 0.35% to 5.53% and a five-year fix at 65% LTV reduced by 0.20% to 5.19%.

Two and five-year fixed rates at 75% LTV will be reduced by up to 0.05%.

These deals are available for loan sizes between £1m and £2m.

Across new and existing customer products, professional two-year fixed rates will be reduced by up to 0.10%, starting from 6.09%.

Selected Professional five-year fixed rates will be reduced by 0.05%, starting from 5.35%.

Meanwhile, Halifax Intermediaries will reduce two-year and five-year fixed rates for homebuyers – including first time buyer, New Build, Large Loans and Affordable Housing – Shared Equity / Shared Ownership from 2 October.

Rates will also be reduced on selected two, five and 10-year fixed rate remortgage products.

Meanwhile, Mpowered is lowering rates across its range of residential products by up to 25bps.

Two, three and five-year rates have all reduced by 0.15% and the lender has also introduced a new 60%, three-year fixed, £0 fee remortage product starting from 5.69%.

In addition, cashback options up to £1,000 are available across the remortgage range across its range of products by up to 25bps.

John Charcol’s technical manager Nicholas Mendes described this afternoon’s price war as a ‘flurry of activity’.