The Society is also launching a new green buy-to-let product.

In part driven by fewer first-time buyers in the market, December 2023 saw the highest ever average for combined incomes.

65% of advisers say their clients have not heard of green mortgages and don’t understand them.

Rates have reduced by up to 0.23%.

Rates in the range now start from 3.79%.

45% of those who have a mortgage say it’s taking longer to pay off than hoped.

Product transfer and further advance products have reduced by up to 0.92%, with remortgage rates also seeing significant cuts.

The Society says a typical customer could save around £300 per month on the improved rates.

First-time buyers made up over a quarter (28%) of the housing market in 2023.