The bank is cutting rates by up to 0.3 percentage points across its mortgage range.
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Read MoreIt follows several other providers that have repriced downwards in recent days.
Brokers said the cuts were good news and that further cuts were likely to come over the coming weeks.
“It reflects the competitive nature of the market and offers potential savings for first-time buyers, home movers, and those looking to remortgage.
“While we’re likely to see further rate cuts over the coming weeks, these are expected to be modest, with only minimal changes to the best deals currently available.”
Lenders begun cutting rates at the end of last year after weeks of increases.
Economists said October’s Budget was likely to mean a higher peak for inflation, and this meant that markets began to predict that the Bank of England would cut interest rates from its current level of 4.75 per cent more slowly than previously predicted.
But as swap rates have eased, some lenders have begun to cut rates.
Even though rates have started dropping, they are still higher than they were at their lowest point in 2024, when deals below 4 per cent were available.
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