The lender said the residential rates would be reduced up to 0.4% across Kensington’s residential products with its Hero range of mortgages, designed for essential workers providing a community service, benefiting from an additional 0.2% cut.

For these products rates start at 3.09%, which is available for a two-year fix at 75% LTV.

Meanwhile, Kensington said 85% LTV products had also been reintroduced across all residential products.

Its Select Range now starts from 1.99% for a two-year fix at 70% LTV and with the relaunch of 85% LTV, 3.84% for a two-year fix rate.

The Select range maximum loan amount will also increase from £750,000 to £850,000 – and from £500,000 to £750,000 on buy-to-let.

With cuts up to 0.3% across buy-to-let, rates now start from 3.59% for a two-year fix at 75% LTV and 3.94% for a five-year fix rate.

Kensington Mortgages has also relaunched its eKo £1,000 Cashback Mortgage.

Craig McKinlay, new business director at Kensington Mortgages, said: “We’re committed to helping borrowers at every life stage. This means providing tailored products and our latest relaunches open up new opportunities for our intermediaries and their clients.

“Our rate cuts reinforce our commitment to helping borrowers who are underserved and undervalued by high-street lenders and we’re confident these latest offerings will be welcomed.”