Competition among lenders has been heating up this week with a wave of price reductions

Barclays is cutting residential rates by up to 66 basis points tomorrow, while Foundation and Accord are lowering buy-to-let prices.

Competition among lenders has been heating up this week with a wave of price reductions by brands including Halifax, Nationwide and Coventry, to name just a few.

At Barclays, the sharpest falls are on purchase-only deals, but remortgage and existing customer rates are also dropping.

A two-year fixed rate at 90% loan-to-value with no fee will be cut by 66bps from 5.45% to 4.79%.

The lender is also cutting its Green Home version of the same product by 66bps, from 5.35% to 4.69%.

Also for purchase, a premier two-year fixed at 85% LTV with no fee will come down by 62bps, from 5.35% to 4.73%.

Foundation has lowered buy-to-let rates today.

The lender has reduced selected F1 standard buy-to-let, houses in multiple occupation (HMOs) and multi-unit freehold block (MUFB) rates by up to 25bps.

Short-term and holiday let products, along with the majority of expat products, have been lowered by up to 20bps, while all Property Plus rates have dropped by 10bps.

Accord Mortgages is trimming all five-year fixes for landlords up to 75% LTV by 8 bps tomorrow.

Highlights of the changes include a five-year fixed at 75% LTV with a £995 fee reduced to 4.87% and a five-year at 60% LTV with a £995 fee reduced to 4.71%, both for purchase only.

Accord Mortgages managing director Jeremy Duncombe says: We’re so pleased to take this opportunity to improve the competitiveness of our buy-to-let range, ensuring we continue to deliver exceptional value wherever possible to our brokers and their landlord clients.