Regulated and unregulated long and short-term products will benefit from the reductions.

The reductions cover residential, self-employed, contractor, and buy-to-let mortgages.

The Society has also expanded its residential product range.

The rental calculation is based on the property’s estimated rental income after the work has been completed.

The name change reflects the fact that commercial mortgages now make up a small proportion of the business.

The lender has reduced rates across its two-year and five-year fixed rates.

TMW has also introduced a new fee option for landlords of £3,995.

PMS advisers now have access to a panel of over 100 lenders covering buy-to-let, residential, remortgage and specialist lending.

The lender has also removed the 5.5% minimum stress rate requirement on five-year buy-to-let products.

Two-year fixed rates now start from 4.65%.