Darlington Building Society has cut selected mortgage rates by up to 40bps across its residential, specialist residential and specialist buy to let ranges.
The changes apply to selected two and five year fixed rate products for purchase and remortgage.
In its standard residential range, Darlington has reduced its two year fixed rate at 80% LTV by 10bps to 5.29%.
The equivalent product at 90% LTV has been cut by 30bps to 5.89%, while the Society's 95% LTV two year fix has also fallen by 30bps to 5.99%.
Specialist residential reductions include a 20bps cut to the two year fixed rate at 80% LTV, which is now priced at 5.49%.
Darlington has also reduced its two year specialist Visa mortgage at 90% LTV by 10bps to 6.09%. Its specialist residential range includes options for Visa borrowers and clients using foreign currency income.
The largest reduction is within the specialist buy to let range, where the five year fixed rate has been cut by 40bps to 5.69%.
The two year specialist buy to let rate has fallen by 30bps to 5.69%, while the five year limited company buy to let product has been reduced by 20bps to 5.99%.
Chris Blewitt, head of mortgage distribution at Darlington Building Society (pictured), said: "Fixed-rate pricing is facing renewed pressure, and funding costs have become more challenging again in recent weeks. Against that backdrop, lenders need to be selective about where they can make meaningful reductions, rather than responding in the same way across an entire range.
"For brokers, the important point is that opportunities to secure better pricing are still there. We have been able to make some significant reductions, including 40 basis points on our five-year specialist buy-to-let product, while also cutting rates across several areas of our residential and specialist ranges.
"Borrowers have had to deal with a lot of uncertainty around mortgage pricing this year, so lenders need to look carefully at where they can offer value. Where the funding position allows us to sharpen a rate and improve the options available to brokers and their clients, we want to act on it."
