Halifax and Lloyds Bank have both announced rate cuts on higher-LTV loans aimed at first-time buyers and home movers.
Halifax has reduced product rates on its two and five-year fixed first-time buyer and home mover products at 85-90% LTV by 0.3%.
It has cut its two-year fix for first-time buyer and home movers to 85-90% LTV by 0.3%, with rates from 4.29% (£495 fee).
And it has also cut its five-year fix for first-time buyer and home movers to 85-90% LTV by 0.3%, with rates from 4.99% (£495 fee).
Craig McKinlay, mortgages director at Halifax, said: "Halifax is committed to providing great service and competitive products to our customers.
"In addition to our current £500 cashback offer, these rate reductions will further support first-time buyers trying to buy their first home and home movers who are looking to move up the housing ladder."
Lloyds is also changing its product range and introducing two new offers for its customers.
For homemovers, its two and five-year rates to 90% LTV have been reduced by 0.30%. Deals start from 4.29% with a £995 fee and one month's payment back for Club Lloyds customers.
For first time buyers, two and five-year rates to 90% LTV have been reduced by 0.30%, starting from 3.84% with a £995 fee for Club Lloyds customers.
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