Related topic: Mortgage rates

The swaps market has been rising since mid-September.

Affected products include remortgage, Fix and Switch, Retrofit Boost and product transfers.

Sam Oliver, founder of AI platform OpenFi, says that as the rate war intensifies, smaller and more agile brokers will need to embrace new technology to compete.

All new business and product transfer fixed rates will reduce by up to 0.36%.

Average rates across all LTVs are now as much as 2% lower than after the mini-budget.

Residential rates now start from 4.14%.

Two-year fixed rates now start from 3.69% at 65% LTV.

Mortgage approvals have climbed for the fourth consecutive month.

The latest reductions follow cuts to its three-year fixed rates last week.

Overall buy-to-let product availability also rose month-on-month.