Another major lender has cut its mortgage rates today, including a best-buy for home buyers with larger deposits.

For non-Premier customers purchasing a home, the cheapest deal on offer for those buying with a 40 per cent deposit or more is 3.91 per cent - also with a £999 fee.

The average two-year fix is currently 5.21, according to Moneyfacts, while the average five-year fixed rate is 5.12 per cent.