Lloyds Bank and Halifax have both reduced two year fixed further advance rates by 1%.
They have cut their rates from 4.89% to 3.89%, available on further advances between £10,000 and £2 million.
Andy Hulme, mortgages director at Lloyds Bank, said: "As we enter the DIY season, people will be looking to update their property with new kitchens, bathrooms, and even larger scale home improvements.
"These new rates will help make borrowing for these improvements more affordable."
Lloyds continues to offer its cashback offer, which refunds one month's standard mortgage payment for qualifying homemovers, up to the value of £1,000.
Halifax has increased the maximum loan amounts available on all further advances.
It has hiked its further advance product loan amounts from £50,000 to £2 million.
Craig McKinlay, mortgages director at Halifax, said: "The increase in the maximum loan amount and significant reduction in rates in our further advance product range provides our customers with a great way to make repairs or improvements to their current property."
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