The bandings are; loans of less than £150,000, loans between £150,000 and £1m and loans over £1m.

Rates on loans over £1m have been reduced and will now start from 4.14 per cent on buy to lets and HMO properties valued at 65 per cent loan to value.

Gavin Seaholme, (pictured) head of sales at Shawbrook Bank’s property finance division, said: “These changes underline Shawbrook’s continued commitment to supporting the simple, the complex, and everything in-between.

“Our team have a wealth of experience lending on commercial and residential developments, in even the most complex of situations and work hard to serve customers at both ends of the market. By offering competitive rates across all loan sizes we can make our expertise and knowledge of the market accessible to as many people as possible.”