Related topic: Mortgage rates

Net mortgage borrowing decreased to £2.9 billion in May, from £4.4 billion in April.

The specialist buy-to-let lender has reduced rates for existing customers.

The buy-to-let lender has also introduced new two-year fixed rate products within its HMO/MUFB range.

The latest rate cuts, for new customers, will be across The Mortgage Works’ buy-to-let and limited company ranges.

The changes include a range of products for first-time buyers.

The Society has also reintroduced five-year fixed rate HMO products for UK and expat landlords.

Nationwide’s lowest fixed rate is now 4.19%.

New products include fee-assisted 70% LTV options and an expanded tracker range.

The latest reductions apply across Pepper’s residential, buy-to-let and affordable home ownership ranges.

The reductions strengthen the bank's recently launched core range, with rates now starting from 4.69%.