The latest cuts apply to five-year fixed rate and tracker mortgages.

Rates start from 6.19% for a two-year fixed rate.

The regulator found that some firms were not taking account of the needs of their customers.

Pepper can now release funds where a customer’s first charge mortgage is held with one of 21 approved lenders.

Inflation came in below economists' forecasts of 3.5%.

The products are the first to be launched by Responsible Lending since Royal London acquired the Responsible Group.

The scheme launched last month and uses the completion incentive budget offered by housebuilders to offer a lower interest rate mortgage.

The Mortgage Industry Mental Health Charter recently achieved its 100th signatory.

The lender has re-introduced Tier 2 and Tier 3 buy-to-let products.

The regulator has decided on a £5.95m fine and industry ban for Nailesh Teraiya in latest cum-ex case.