For example, its fee-free two-year fix at 60 per cent loan to value (LTV) for purchase and remortgage has gone down from 6.19 per cent to 5.99 per cent while the option with £500 cashback has been lowered from 6.35 per cent to 6.16 per cent.
The lender has also made rate switching available to residential borrowers at 95 per cent loan to value.
For buy-to-let borrowers, two-year fixed rates will reduce by up to 0.46 per cent, three-year fixed rates by up to 0.16 per cent and five-year fixed pricing by as much as 0.35 per cent.
This includes a fee-free two-year fix at 60 per cent LTV, for purchase and remortgage, which has gone down from 6.74 per cent to 6.54 per cent and an option with a £995 fee which has been cut from 6.21 per cent to 5.99 per cent.
Some buy-to-let tracker rates are being increased by up to 0.17 per cent.
Changes will apply from 4 October.
Virgin Money reduces rates
Virgin Money has made reductions to its mortgage rates.
For its seven-day special remortgage exclusives, the five-year fix at 60 per cent LTV has gone down by 0.25 per cent to 4.9 per cent and the 70 per cent LTV option has reduced by the same amount to 4.95 per cent.
Both have a £995 fee and are available until 8pm on the 10 October.
For standard remortgage exclusives, the five-year fix at 60 per cent LTV with no fee and £250 cashback has been cut by 0.05 per cent to 5.3 per cent. The equivalent product with a £995 fee and £1,500 cashback has been lowered by 0.29 per cent to 5.09 per cent.
The lender has also reduced rates on select purchase exclusive deals and product transfer rates have been cut by up to 0.11 per cent and now start from 5.12 per cent.
Suffolk BS launches three-year fixes
Suffolk Building Society has released a three-year fixed product at 80 per cent LTV with a rate of 5.95 per cent.
This is available to first-time buyers and homeowners. It has a minimum loan size of £75,000 and a maximum loan size of £1m.
At 90 per cent LTV, the mutual has launched a three-year fix with a rate of 6.29 per cent for purchase and remortgage loans. This has a minimum loan size of £75,000 and a maximum loan size of £500,000.
Both options have an application fee of £199 and a completion fee of £999.
Suffolk Building Society has also reduced rates on its two-year fixed rates for residential, buy-to-let, holiday let and expat borrowers by up to 0.24 per cent.
Andrew Sadler, key account manager at Suffolk Building Society, said: “As the market begins to look a little more competitive, we’re delighted to add these three-year, fixed rate products to our range, giving intermediaries and their clients more choice. It also offers borrowers more certainty over a longer period of time.”
