Related topic: Mortgages

The minimum value has also reduced across the Society's retirement interest-only and Family Mortgage ranges.

The new products coincide with rate cuts on the lender's Credit Revive range.

Scotland and the North East, where prices are lowest, are the only parts of Great Britain where a typical new mortgage is cheaper than renting.

The lender's lowest mortgage rate is now 3.96%.

Rates have reduced by up to 0.15% across the ranges.

In the first in a four-part series, Zahid Bilgrami, CEO of Mortgage Brain, explores the pillars of Mortgage Brain's AI Charter: cost, intellectual property, consistency, and speed.

The lender has relaunched a range of five-year fixed rates.

The lender has reduced rates by up to 0.20% for new and existing customers.

The average time to sell a home is 33 days, just one day longer than last year - though London sees the greatest impact with time to sell being six days longer.

The new proposition pledges a "refreshed, broker-first approach" across the Society.