Fleet has also reduced fees for standard and limited company borrowers.

The new rates come as part of widespread rate cuts of up to 0.20% across HSBC's residential and buy-to-let mortgage ranges.

Rates now start from 4.09%.

The bank says this is due to a recent increase in five-year market swap rates. 

Higher-LTV residential rates have seen some of the largest rate cuts.

Two-year fixed rates have reduced by 20bps and five-year fixes by between 20 and 36bps.

Mortgage and rental spending grows 2.0%, but consumer confidence remains unchanged.

The lender has reduced rates at 90% and 95% LTV.

A number of the reductions are specifically aimed at supporting first-time buyers and come with £500 cashback.

Nationwide also reducing selected rates for new and existing customers looking to move home.