More lenders are cutting rates right up to today, the eve of the Bank of England’s next base rate decision. 

Accord Mortgages is making cuts across to its buy to let product range this week by up to 0.15%.

These latest reductions from the intermediary-only lender include a discount of as much as 0.15% on two-and-five-year fixed rates. Three-year fixes reduce by up to 0.10%, and for those looking for a two-year tracker option, rates are also reduced by up to 0.15%.

The lender has also reduced fees from £3,495 to £1,995 on selected three-year fixed rates.

The new range is available from today and highlights include:

• A two-year fixed rate at 4.19% (was 4.29%) for those remortgaging up to 60% LTV, which comes with a £3,495 fee, free standard valuation and remortgage legal service;

• A three-year fix at 4.59% (was 4.64%) for house purchasers and those remortgaging at 65% LTV, which comes with a £995 fee, £250 cashback and free standard valuation;

• A two-year fixed rate at 4.54% (was 4.64%) for those remortgaging up to 75% LTV, which comes with a £1,995 fee, free standard valuation and remortgage legal service;

• And a five-year fixed rate at 5.04% (was 5.19%) for those remortgaging up to 80% LTV, which comes with a £995 fee, free standard valuation and remortgage legal service.

Aidan Smith, buy to let mortgage manager at Accord, says: “We’re so pleased to reduce rates across the range, delivering the best possible value to our brokers and their landlord clients.

“These changes are designed to benefit a variety of landlord borrowers, from those looking for a shorter fix to those preferring something longer-term, as well as those who prefer the alternative offered by a tracker option.”

Meanwhile the Cumberland for Intermediaries has reduced the remortgage fee on all core holiday let products from £999 to £299.

The change is described as supporting brokers working with clients who own holiday let property within sole trader or partnership entities with three or less mortgaged properties within their ownership.

The fee reduction aims to make it easier for holiday let owners to secure financing, without higher upfront costs.

Cumberland senior sales manager for intermediary lending, Lisa Hodgson, comments: “We know that cost is a key factor, and cutting our remortgage fee on the core range to £299 is a direct response to what we’re seeing in the market. Keeping upfront costs low makes refinancing more accessible, helping holiday let owners manage their investments more effectively.”

Finally, residential mortgage lender Gen H has launched New Build Boost, a scheme designed to support first-time buyers with small deposits. It’s the first scheme since Help to Buy to assist buyers who have limited savings and no access to family financial support.

The scheme requires buyers to contribute a minimum 5% deposit, take out an 80% loan-to-value mortgage with Gen H, and receive a 15% interest-free equity loan from the house builder. Gen H has partnered with Persimmon Homes for an initial 120 sites and wants other housebuilders to sign up.

Unlike Help to Buy, the equity loan remains interest-free for its full term and can be repaid at face value within the first five years. The amount owed is capped at twice the original loan to protect borrowers from significant house price increases.