The lender also cut rates across a variety of its three-year, five-year and 10-year fixed-rate products at the end of last week.

These are typically at 60%, 70% and 75% loan to value (LTV), however the five-year product has also been cut at 80% LTV.

The 10-year deal has only been cut at 75% LTV.

Market-leading deal

Data site Moneyfacts confirmed that the market-leading five-year deal is available at 1.59% at 60% LTV and is available for all borrowers. It has a product fee of £999 or £749 depending on the account held by the customer, and comes with free legal fees for remortgages.

It matches the rate from Atom Bank, although the Atom Bank mortgage is only available to remortgage customers.