For new customers, Aldermore’s BTL fixed rates for new and existing customers have reduced by up to 0.2%, while residential owner-occupier fixed rates for new customers up to 80% loan to value (LTV) have been cut by up to 0.5%.

As well as lowering rates, Aldermore has introduced limited-edition two- and three-year fixed rates up to 80% LTV and a 1% discount on reversion rates.

In its residential range for existing customers, fixed rates have been reduced by up to 0.4%.

Jon Cooper, director of mortgages at Aldermore, said: “We’re pleased to introduce a wide array of rate cuts to support brokers in finding solutions for their clients. These reductions give both landlords and homebuyers valuable choice and competitive pricing, at a time when the optimism and outlook within the market starts to grow.”

Aldermore previously lowered mortgage rates at the start of July.

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The Co-operative to lower mainstream rates but keep BTL stable

The Co-operative will re-launch a selection of its mainstream mortgage range for both new business and retention from 15 August.

In its new business and retention range, the firm is lowering two-, three- and five-year fixed rates by up to 0.15%.

Within its new business range, the lender’s two- and five-year fixed rates with a £1,999 fee at 60% LTV are being withdrawn, while in its retention range, its two- and five-year fixed rates with a £1,249 fee at 60% LTV will be removed.

BTL and Help to Buy deals are unchanged in its new business and retention ranges, along with its professional mortgage deals in new business.