The average two-year fixed rate ticked downwards from 1.99 per cent to 1.98 per cent across all LTVs this week, the latest data from Moneyfacts shows.

Elsewhere, the average three- and five-year fixes also fell while the average 10-year fix stood still.

Two-year fixes

In this category, the average rate at 95 per cent LTV jumped from 3.51 per cent to 3.94 per cent – a total of 43 basis points.

The only other area where rates grew was at 90 per cent, where the average rate moved in far more modest fashion – from 2.66 per cent to 2.68 per cent.

The biggest fall was seen at 70 per cent LTV, where rates fell from 2.17 per cent to 2.13 per cent.

Three-year fixes

Here, the average rate dropped from 2.23 per cent to 2.20 per cent.

The largest fall was at 70 per cent LTV, where the average rate moved from 2.43 per cent to 2.38 per cent, while the most notable rise was within 65 per cent LTV, where the average rate grew from 1.75 per cent to 1.78 per cent.

Drops of between one basis point and three basis points were scattered across other LTVs.

Five-year fixes

The average rate for a five-year fix dropped this week too, from 2.24 per cent to 2.23 per cent.

The only LTV brackets where the average rate moved upwards was at 100 per cent, from 3.42 per cent to 3.47 per cent and at 90 per cent LTV, where the rate grew from 2.97 per cent to 3.01 per cent.

Meanwhile, at 70 per cent LTV, the average rate fell from 2.44 per cent to 2.40 per cent. In all other areas the rate dropped slightly bar at 85 per cent LTV, where it was static at 2.32 per cent.

10-year fixes

Here the average rate across all LTVs remained at 2.61 per cent and the rate only moved at all within two categories – at 85 per cent LTV and at 65 per cent LTV.

At 85 per cent LTV the average rate grew, from 2.79 per cent to 2.83 per cent and at 65 per cent LTV the rate fell, from 2.30 per cent to 2.27 per cent.

Moneyfacts finance expert Eleanor Williams says: “This week has seen a variety of updates across the mortgage sector, with rates being amended across various ranges and criteria amendments such as advance amounts continuing to be tweaked.

“The availability of higher LTV products, often favoured by first-time buyers who are a vital part of keeping the housing market running, has fluctuated considerably recently, with many who had returned options to their ranges being swiftly inundated with demand.

Therefore, it has been very positive this week to see lenders such as Platform reintroduce products for those with a 10 per cent deposit, and Yorkshire Building Society also launching 90 per cent LTV deals for FTBs. Family Building Society has also brought back its 95 per cent LTV Family Mortgage product.

“The more providers who are able to return options to this popular sector of the market will not only ensure greater choice is available to consumers but would hopefully also balance the level of borrower demand.”