A pair of 90 per cent loan to value (LTV) purchase deals have been reduced by 0.15 per cent.

Fixed for two years, borrowers can secure a rate of 5.89 per cent. Over a longer term of five years, the rate falls to 5.35 per cent.

These deals are available for loan sizes between £300,000 and £600,000.

The bank’s remortgage range will be boosted by two new remortgage deals at 85 per cent LTV. Both come with £500 cashback. A two and five year deal will be added to the range with rates starting from 5.24 per cent.

Rate cuts of up to 0.27 per cent have been applied to selected remortgage deals.

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Large loan deals reduced

Large loan deals, for loan sizes between £1m and £2m, for borrowers with 25 per cent equity have also been reduced. A two-year fixed rate has been cut by 0.16 per cent to 5.75 per cent. The five-year option has been reduced by 0.12 per cent to 5.26 per cent.

Other highlights from the rate cuts include reductions of up to 0.27 per cent on selected professional and newly qualified professional fixed rates. Two-year offset discounted rates will be reduced by 0.20 per cent while selected two and five-year deals for new and existing borrowers will be cut by up to 0.27 per cent.

Rate cuts of up to 0.30 per cent have been applied to some buy-to-let fixed rate deals.