Within The Co-operative’s new business range, rates for its residential two- and five-year fixed options will fall by around 0.32%, and buy-to-let (BTL) two- and five-year fixed rates will fall by up to 0.05%.

The same changes have been made to its product switch range.

Pricing for residential new business fixed rates starts from 4.58% for a no-fee five-year fixed rate at 60% loan to value (LTV) and 5.14% for a fee-free two-year fixed rate at the same LTV tier.

Going up to the £999 fee option, a two-year fixed rate at 60% LTV is 4.85%, while its five-year fixed rate equivalent is 4.38%.

On the BTL side, fee-free two-year fixed rates are priced from 5.18%, with its five-year fixed rate standing at 4.67%.

Going up to a £1,999 fee, two-year fixed rates start from 4.84% and its five-year fixed rate is 4.49%.