Gen H is cutting selected mortgage rates by up to 30 basis points, while Precise and Rely are reducing rates by up to 20bps.

Gen H’s largest reduction will apply to its two-year fixed rate at 85% LTV, which will fall by 30bps.

Three and five year fixed rates between 85% and 95% LTV will decrease by 20bps, alongside two-year fixes at 90% and 95% LTV.

Two and three year fixed rates between 60% and 80% LTV will fall by 10bps, while five-year fixes across the same LTV range will reduce by 9bps.

Its New Build Boost rate will also be cut by 20bps, from 6.89% to 6.69%, giving an effective rate of 5.63%.

Meanwhile, Precise will reduce two-year fixed residential rates by 10bps and five-year fixes by 20bps.

Its one-year fixed rates will remain unchanged.

The lender will withdraw its current residential range at 5pm today ahead of the launch of the new reduced-rate products.

Rely will cut two-year fixed buy-to-let rates by 10bps and five-year fixes by 20bps.

Its one-year fixed rates will remain unchanged.

The lender will withdraw its current two and five year fixed products at 5pm today ahead of the launch of the new reduced-rate range.

Precise and Rely are both part of OneSavings Bank.