Related topic: Mortgage rates

The Society has also broadened its fixed rate mortgage range.

First-time buyer rates have seen the largest reductions.

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%.

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.

Rates across its core, prime and eKo ranges have reduced by up to 0.20%.

The lender has lowered pricing across UK, non-UK resident and expat products.