The new 5-year fix has been designed to strengthen support for first-time buyers

Despite a degree of stability returning to the mortgage sector this year there’s still work to do, according to Octane Capital.

According to the lender, the new product has been launched to help property investors ride out a period of uncertainty in the market.

New analysis reveals people who rent in retirement could need almost £400,000 more in savings than those with no housing costs.

The lender has also announced a series of rate cuts across its existing five-year fixes

New rates include 2-year fixed from 4.55% and 5-year fixed from 5.06%

The bank accepted an unmortgaged property as security instead of cash and completed the case in 36 days from credit approval.

The five-day bridge saved the customer's deposit on their newbuild apartment in London

Following the changes, all contractors will now have access to the lender’s standard mortgage products.

The biggest rises have been seen in the North West, according to Rightmove's latest study.