The cuts follow a fall in swap rates over the last month.

The Society has also launched a new expat buy-to-let mortgage.

The Society has launches a new 'end-to-end property development proposition' with expanded buy-to-let and bridging solutions.

Grant Hendry, director of sales at Foundation Home Loans, says the complexity of expat borrowing means the traditional, one-size-fits-all approach to lending rarely works.

The Society's entire buy-to-let product range is now available up to a maximum of 75% LTV.

Fixed rates start from 5.84% up to 85% LTV. 

The new products give brokers more choice when placing cases for homeowners, landlords and overseas borrowers.

The Society has launched new rates across residential, expat, buy-to-let and holiday lets starting from 5.70%.

Reduced minimum ICR increases borrowing power for landlords and changes to affordability stress tests will allow for greater residential borrowing.

The Society has enhanced its lending criteria for foreign nationals, expats, and downsizers.