1 in 10 found the process too daunting to apply or didn’t know enough about it.

The Rate Reducer mortgage gives the cashback often given to buyers by new-build developers back into the mortgage, lowering the interest rate.

The intermediary-only lender has reduced its £5k Deposit mortgage to 5.79% and reduced other rates by up to 0.55%.

The six existing phone numbers for broker queries are now being simplified to one number.

Nationwide is also the first major lender to offer a sub-5% rate on its standard range to those with a 5% deposit.

The Bank is withdrawing buy-to-let two-year tracker rates in the new business and product transfer ranges.

Two-year fixed rates now start from 4.02%.

The client is free to repay their lifetime mortgage in full at any point without incurring an ERC.

Members can now become Later Life Lending Accredited Advisers.

The lender has announced rate reduction of up to 0.62% across its fixed rate products.