Within the lender’s owner-occupier range, two-year fixed rates have decreased by 10bps and five-year fixed rates have fallen by 15bps for borrowers taking out mortgages on a repayment basis.

For owner occupiers borrowing on an interest-only basis, both two- and five-year fixed rates have been reduced by 10bps.

In the Family’s buy-to-let range loan-to-value based pricing tiers have been scrapped and all products are now available up to a maximum of 75% LTV.

Products previously available up to 60% LTV have been withdrawn.

The lender has also trimmed rates on its buy-to-let range for new customers, including for limited companies and expat landlords, by 10bps.

Rates for houses in multiple occupation (HMOs) and expat landlords borrowing through limited companies remain the same.

Family Building Society head of intermediary sales Darren Deacon says: “It is clear that purchasers and those looking to remortgage may be delaying decisions until after the Autumn Statement and the potential tax-raising measures that are likely to be announced.

“Therefore, these price reductions will be welcomed by many on the cusp of a purchase or remortgage and in particular by UK and expat landlords looking to secure certainty with a two- or five-year fixed term in an uncertain economic outlook.”

The changes come amid rate cuts at Nationwide, TMW, Leeds and several other lenders this week.