Kensington Mortgages has made cuts to rates of up to 40bps across its residential range and 20bps on selected buy-to-let products.

The lender’s Select range now starts from 2.49% at 75% LTV and 2.99% at 85% LTV, following a 20bps reduction to the two-year fixed rates.

The residential five-year fixed rate at 85% LTV has been cut by 40bps to 3.79%, and its two-year fixed products have been cut by 30bps to 2.64% (75% LTV) and 2.74% (80% LTV).

Buy-to-let loans have seen reductions of 0.20% across its five-year fixed range.

Kensington has also made changes on its residential large loans proposition, with rates now starting from 2.39% with zero completion fee on the one-year fixed option, and cuts of at least 30bps across its new build range, including 40bps on its residential new build five-year fixed product.

The rate reductions end 12 January 2018.

Steve Griffiths (pictured), director of sales and distribution at The Northview Group, said: “Despite the question of a rate rise by the Bank of England, these reductions show Kensington’s commitment to providing customers with highly competitive rates for real life lending solutions.

“Whether our customers are self-employed, contractors, or have complex income streams, we are committed to offering a variety of competitive products to meet changing demands and needs of our clients, and we are confident that these reductions will be welcomed by brokers and customers alike.”