Rate reductions cover residential purchase and buy-to-let purchase and remortgage.

The lender has also trimmed purchase rates by up to 0.09%.

The lender has reduced mortgage rates by up to 0.21%.

A typical household could potentially borrow £38,000 more.

Higher-LTV fixed rates have seen the largest reductions.

Two-year fixed rates will benefit from the latest round of reductions.

High-LTV products have seen the largest rate reductions.

Remortgage and product transfer deals have seen the largest reductions.

The online system fact find questions will automatically determine if an application can follow the new process.

The lenders have joined Leeds Building Society in reducing rates during the first week of January.