The rate reductions come amid the launch of a new streamlined range of residential products.

The Hill Group has surpassed revenues of £1bn, with “record” profits of £70.1 million.

The quickest loan was completed in under 6 days

The new products are available for individual and limited company applications in England, Scotland and Wales

26% of property developers have been turned down for finance on multiple occasions

The deal was completed within 10 working days of obtaining credit approval

Reduced house prices were not found to be very influential in encouraging investment among landlords

The gap between what sellers want for their homes and what buyers are actually paying has increased by a further 1.1% in the past year, according to new analysis from Yopa.

First-time buyers and buy-to-let landlords are continuing to benefit from an increase in available mortgage products.

The latest cuts mark the third time in two weeks the lender has reduced its rates on residential products.