The fixed rates see price cuts of 0.15%at both 85% LTV and 90% LTV levels.

The 2-year fixed rate at 85% LTV is cut to 3.84% and at 90% LTV to 4.64%; the 5-year fixed rate at 85% LTV is cut to 4.04% and at 90% LTV to 4.84%.

These 85% LTV owner-occupier products come with a £995 fixed product fee, and the 90% LTV products come with no product fee. They are available to movers, remortgagers and first-time buyers alike.

George Gee (pictured), commercial director at Foundation Home Loans, said: “We want to support intermediaries with competitive pricing choices, particularly at a time when many areas of the marketplace are seeing rates increasing or being withdrawn, and mortgage choices appear to be reducing for self-employed owner-occupiers or borrowers with complex income.

“We are therefore pleased to be able to introduce these residential price cuts of 15 basis points at higher loan-to-value bandings for near-mainstream borrowers.”