The society has also extended the end dates on mortgage products.

One in five prospective homebuyers intend on making their home more energy efficient in the hope of a more favourable mortgage deal

Rates on the lender's second charge A Plan now start from 11.98%

Octopus Energy recently partnered with Perenna to launch the ‘Zero Energy Bills’ home mortgage

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

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.

The new rate reductions take place with immediate effect and follow a cut of up to 0.45% at the end of last month.

Analysis of BSA data has revealed that gross lending has fallen to its lowest level since interest rates began to increase, according to Octane Capital.

Speculation is growing that a rate cut may not happen until September.