This includes its two-, three- and five-year fixed homemover and first-time buyer mortgage rates, which will be reduced by up to 0.1%, and similar reductions to its remortgage rates.
Its two-, three- and five-year product transfer and further advance mortgage rates will be reduced by up to 0.07%.
Amanda Bryden, head of mortgages at Lloyds Banking Group (LBG), said: “We understand that both homemovers and remortgage customers have seen rates rise on the back of global events.
“As we see a period of calm and rates ease, hopefully it will give people in the market for a mortgage some confidence.”
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Darlington BS cuts residential and BTL rates
Rates have been lowered by up to 20 basis points (bps).
Highlights include its residential two-year fix at 80% loan to value (LTV), which has been cut from 5.29% to 5.09%.
Following reductions, its specialist residential visa two-year fix at 90% LTV is now priced at 5.99%, while the two-year fixed shared ownership rate has been reduced from 5.89% to 5.79%.
Darlington Building Society’s two-year fixed standard BTL product is now priced at 5.49% and the two-year fixed holiday let is priced at 5.59%.
Chris Blewitt, head of mortgage distribution at Darlington Building Society, said: “One of the biggest challenges for brokers at the moment isn’t necessarily finding a mortgage, it’s finding a mortgage that genuinely fits the client’s circumstances.
“We regularly see cases involving first-time landlords, borrowers on visas, holiday let operators and clients looking to remortgage a former residential property into the buy-to-let market. None of these are particularly unusual scenarios, but they can still sit outside the comfort zone of some lenders.”
The mutual’s holiday let and BTL criteria have no minimum income requirement, no maximum age and consider first-time buyers and first-time landlords.
Blewitt added: “On cases like these, criteria is just as important as rate. Brokers need lenders that can look at the full picture rather than at a rate that’s competitive, which is why we’ve continued to focus on both pricing and flexibility across the range.”
