Find out which lenders are reducing rates across product ranges
A number of mortgage and finance providers have announced rate reductions and product changes aimed at supporting brokers and borrowers by providing more affordable options.
Virgin Money will reduce selected fixed rates from July 3 across purchase, buy-to-let, and product transfer ranges. Key changes include a five-year fixed rate at 75% LTV reduced to 4.09%, and reductions of up to 0.08% on selected buy-to-let products, with rates now starting from 2.98%. Product transfer rates are also being cut, with some 65% LTV deals starting at 3.86%.
The Mortgage Works (TMW) is also lowering selected buy-to-let rates for both new and existing customers by up to 0.35 percentage points, effective July 3. Highlights include a two-year fixed rate for remortgage at 2.99% with a 3% fee and a five-year fixed rate at 3.82% up to 75% LTV. House in multiple occupation (HMO) and limited company products are also included in the reductions.
Meanwhile, Hinckley & Rugby for Intermediaries has launched a new two-year discounted remortgage product at 4.81%, down from 5.06%. Available up to 80% LTV, it includes a £250 legal contribution and no booking fee. The change follows a cut to the society’s standard variable rate and expands access to its digital remortgage process, delivered in partnership with PEXA and Optima Legal.
Fintech mortgage lender Gen H has announced further rate cuts across its residential mortgage range, including newly launched interest-only products. Reductions include 15 basis points at 90% and 95% LTV, and 10 basis points at 60% and 80% LTV. Rates now start at 4.89% for capital repayment and 4.99% for interest-only. The lender’s New Build Boost rate has also been cut to 5.95%.
Bridging lender London Credit has also made further reductions to its commercial and semi-commercial bridging finance range as part of a new summer offer. Rates have been lowered by up to 72 basis points per annum across 60–70% LTV tiers. The lender said the move supports brokers working with clients needing fast, flexible short-term funding solutions.
Elsewhere, second charge lender Selina Finance has introduced a bespoke pricing model for second charge loans, moving away from traditional rate cards to personalised, data-driven pricing. Rates now start from 5.94%, with loan sizes ranging from £10,000 to £500,000 and up to 100% LTV considered. Brokers can access real-time quotes through the Selina portal, a move the lender said reduces quote time by 74% and allows for “greater value and accuracy.”
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