Metro Bank has made further cuts across its residential, near-prime and buy-to-let product ranges, reducing pricing by as much as 50 basis points and re-entering the 80% loan-to-value buy-to-let market.

The new rates take effect from today.

Charles Morley, director of mortgage distribution at Metro Bank, said: “As a specialist lender we work hard to ensure our products continue to meet the needs of both brokers and borrowers, whether that’s through our pricing, our market leading criteria or focus on customer service.”

The reductions are spread across the lender’s core residential range, with existing and new customers moving home seeing cuts of between 0.2% and 0.3% on two-year fixes.

Large-loan borrowers – those seeking more than £1 million at up to 85% LTV – will benefit from smaller reductions of between 0.1% and 0.2% on two-year products. Metro Bank has also introduced a five-year fix at 80% LTV, priced at 4.99%.

In near-prime, the lender has trimmed up to 0.5% from rates available to borrowers with “less than perfect” credit profiles, extending the repricing to both new and existing customers.

Its buy-to-let line-up has also been refreshed. Rates on two-year and five-year fixes across individual buy-to-let, HMO and MUFB, and limited company products have been reduced by between 0.1% and 0.3%.

The lender has also returned to the 80% LTV tier in buy-to-let, a space it had stepped back from in recent years.