Among the changes, fixed rates have been cut by up to 0.91% to start from 3.24% and product fees have been reduced to £995, down from £1495.

Reversion rates have been reduced on many products and now start from 4.99%, previously 5.52% with prices reduced in the packager, network and Club exclusive range and the launch of lifetime trackers.

All fixed rate end dates extended to December 2016.

Alan Cleary, managing director of Precise Mortgages, said:

“This is the most competitive residential product range we have launched and I am pleased to say that this is just the first of a number of product developments from us.”