The reductions cover shared ownership and remortgage products.

Rates have reduced by up to 15bps.

Residential rates have reduced by up to 0.88% and now start from 5.79%.

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.