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The lender has also increased LTVs and maximum loans sizes on its Optimal 1 and Optimal 2 products.

The arrangement enables a single approved legal panel to act for both the borrower and GB Bank.

65% of IFA firms surveyed are targeting revenue growth of 20% or more over the next 12 months, with almost one in five (19%) aiming for 50% growth or higher.

The increase to 80% LTV gives brokers greater flexibility when structuring finance for eligible HMO applications.

The latest reductions span purchase, remortgage and product transfer.

Some major institutions have either withdrawn or significantly reduced their appetite for providing funding to specialist lenders, industry experts say.

The lender has reduced rates by up to 0.19% across its residential purchase and remortgage ranges.

A household on an average combined income of £53,500 can now afford a home listed at up to £301,000.

High LTI lending by individual lenders can now exceed 15% of their total number of new residential mortgages.

Monthly GDP grew by 0.1% in August, ahead of economists' expectations.