Together has reduced rates on its first and second charge discounted rate mortgage products by 25 basis points. 

The discounted rate mortgage offers a discount on Together Managed Rate, plus product margin, for a two year period. It has a lower interest rate than the group’s variable rate products. 

It is available on first charge mortgages, including home loans for first-time buyers, shared ownership and right to buy as well as second charge mortgages including loans for debt consolidation and home improvements. 

Discounted product rates have been cut from 8.55% to 8.30% on first charge and 9.24% to 8.99% on second charge. 

Both are available up to 65% loan-to-value (LTV) and with a lender’s fee of £1,495. 

Together has also increased the maximum loan sizes available before referral on its second charge mortgages and second charge consumer buy-to-let (BTL) range for ‘accidental’ landlords. 

The maximum loan size on second charge mortgages has increased from £100k to £250k up to 75% LTV, from £250k to £500k up to 65% LTV and from £500k to £750k up to 60% LTV. 

Maximum loan sizes for second charge consumer BTL will increase from £250k to £500k up to 65 LTV and from £500k to £750k at 60% LTV. 

Elsewhere, Keystone Property Finance has made rate reductions of up to 20bps on selected rates within its product range. 

The specialist BTL lender has cut all its expat rates by 20bps and all other rates, excluding holiday let products, by 10bps.

A standard two-year fixed rate at 70% LTV will now start at 2.94% while a specialist two-year fixed at 70% LTV will start at 2.99%.

Refurb-to-let five-year fixed rates at 65% LTV will start at 4.69% and expat two-year fixed rates at 65% LTV will start from 4.54%. 

Five-year fixed rates for holiday let products at 65% LTV will start at 5.49%, product transfer five-year fixed rates at 65% LTV will start at 4.99% and switch and fix five-year fixed rates at 65% LTV will start from 5.69%. 

Meanwhile, Virgin Money has cut rates by as much as 0.15% and launched new purchase exclusive products. 

The lender’s shared ownership fixed rates will be lowered by up to 0.15% while its exclusive 80% LTV two-year fixed rate with a fee of £895 has been reduced by 0.10% to 4.19%. 

In its remortgage range, Virgin has cut its exclusive 75% LTV five-year fixed rate with a fee of £995 by 0.06% to 4.14%. 

Rates have also been lowered in the lender’s BTL range, with selected two- and five-year fixed rates with a fee of £2,195 being cut up as much as 0.10% and selected two- and five-year fixed rates with a 1% fee being reduced by up to 0.14%.

It has also launched an exclusive 75% LTV five-year fixed rate with a fee of £895 at 4.14% and an exclusive 85% LTV five-year fixed rate with a fee of £895 at 4.28%. 

At the end of May, Keystone Property Finance reintroduced a 7% arrangement fee option on selected five-year loans, while Virgin Money lifted some residential and BTL loans as well as withdrawing others.