Ten-year fixed deals now account for just 12.41% of searches, the lowest ever share.

The lender is also reducing rates across its two-year Summer Special products by 0.20%.

July recorded the smallest ever gap between purchase and remortgage searches.

The Society has introduced enhanced affordability to support remortgage borrowers.

The average mortgage rate is 0.62% cheaper than this time last year.

The widening of credit criteria will enable more landlords to access the range where they have minor credit blips.

Purchase and remortgage rates have benefitted from the rate reductions.

Coventry launched its first product specifically for limited company landlords earlier this year.

The lender has reduced all 60-75% LTV remortgage rates by up to 0.16%.

The market has slowed down slightly, but overall activity is significantly healthier than last year.