In London, only 8% of homes for sale are set to be stamp-duty free for first-time buyers from April. 

Rates have reduced by up to 0.14%.

Mortgage costs as a percentage of income have fallen to 29% from 33%.

Rates start from 4.27%.

The bank is also launching a new range of two-year fixed rates.

The lender has introduced product switch rates for landlords with large HMOs and multi-unit freeholds. 

Rates in the range start from 4.04%.

The lender has removed the maximum accepted annual rental limit – previously set at £100,000.

The new range caters to buy-to-let and holiday let customers across England, Scotland, and Wales.

Helen Cawthra from Vida Homeloans explores the factors that come together to influence mortgage rates alongside other market considerations such as inflation, the cost of borrowing,...