Barclays is cutting rates by up to 50 basis points tomorrow, while Landbay has made reductions of up to 35bps.

When Nationwide Building Society dropped prices earlier this week on the back of lower swaps, brokers were hoping other major lenders would follow suit, however there have been moves in both directions.

Halifax was among those to increase rates, which advisers saw as a bid to manage volumes.

At Barclays, the biggest reductions of 50bps are on 10-year fixed rates, with a 60% loan-to-value residential purchase deal set to fall from 5.62% to 5.12% with a £999 fee.

It is also lowering prices on more popular products by up to 22bps, such as a purchase-only two-year fixed at 75% LTV with no £0 fee, which will drop from 5.07% to 4.85%.

A green home version of the same two-year deal will be cut to 4.75%

Other highlights of the reprice include a five-year fixed for purchase at 60% LTV down from 4.67% to 4.58% with an £899 fee.

Elsewhere, in the buy-to-let and specialist market, Landbay has reduced rates by up to 35bps for product transfer, small houses in multiple occupation (HMO), multi-unit freehold block (MUFB) and holiday lets.

Keystone has cut rates by 10 basis points across almost all its products today and Rely is withdrawing rates at close of business to lower prices when it relaunches deals tomorrow.