The lender’s interest-only proposition will comprise three phases, the first of which launches today to intermediaries on its panel.

Brokers were cautioned against recommending two-year fixes in the expectation that rates will be lower in two years' time.

New Build Boost launched in March as a private sector alternative to Help to Buy.

Standard mortgage rates now start from 5.48%.

Just 29% of brokers believe estate agency market appraisals and agreed sales prices accurately represent market value.

Changes apply on standard and green two-year products, including HMOs and MUFBs.

Rely will support a broad range of customers - from new landlords to experienced portfolio investors. 

The lowest rates now start at 5.14% for a two-year fixed term.

Rates start from 0.92% for borrowers looking to repurpose existing commercial buildings.

The Society recently increased the maximum LTV for new build houses to 95%.