Two-year fixed rates have been reduced by around 50 bps while three-year fixes falling by between 45 to 60 bps. Five-year fixed rates have been cut by between 45 to 56 bps.

A two-year fixed rate at 95 per cent LTV has been reintroduced. The fee-free option is priced at 7.18 per cent or borrowers can pay a £999 fee for a rate of 7.03 per cent.

The lender has also expanded its bundle service, where borrowers can get a further discount on their mortgage rate if they use its conveyancer, Gen H Legal, for their purchase to include homemovers. Previously this was restricted to first-time buyers only.

Homemovers taking the homebuying bundle will receive between a five bps and 22 bps discount on the equivalent standard product.

For example, someone taking the standard two-year fixed rate 80 per cent LTV deal at 6.75 per cent is discounted to 6.53 per cent if they take the homebuying bundle.

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Pete Dockar, chief commercial officer at Gen H, said: “We’re delighted to now offer our unparalleled service and innovative products to all home movers with the homebuying bundle – alongside significant rate drops.

Fiona Lumsden, head of legal practice at Gen H Legal, said: “When we launched Gen H Legal, we did so with the intention of creating positive change in the conveyancing industry. I’m delighted that we’re able to act on purchases and sales to create a stress-free, positive homebuying experience for even more people across the UK.”