Residential and buy-to-let rates are both reducing as part of the changes.

Rates have reduced by up to 0.35%.

The new range includes new two-year fixed rates for both buy-to-let and semi-commercial.

The lender has cut rates by 15 basis points across all products.

The Society has also increased the discount on its variable rates.

The buy-to-let lender has launched sub-4% two-year fixed rates.

Rates have reduced by between 40-50bps.

Further work is now underway to fully integrate PEXA into Shawbrook’s application journey.

Buy-to-let rates now start from 5.34%, with a reduced ICR and increased maximum LTV.

Borrowers opting for a variable or a shorter-term fixed rate will be able to borrow more than before.