Related topic: Mortgage rates

The lender has also launched new 90% and 95% LTV products.

The typical household will see payments rise by around £540 a year, however, a number of households are projected to see a significant increase in repayments.

The new round of reductions will benefit both new and existing customers.

The new AVM remortgage products are available up to 75% LTV and comprise four two-year fixed rate options.

The rate changes apply across a broad range of products, including residential first and second charge, buy-to-let, commercial and semi-commercial lending.

The rate cuts also apply to GB Bank’s bespoke proposition at 65% LTV.

The bank has reduced rates at low and high LTVs.

Rates have reduced by up to 0.30%.

Rates now start from 3.29%.

The new limited edition 60% LTV products feature £300 cashback.