26% of property developers have been turned down for finance on multiple occasions

The deal was completed within 10 working days of obtaining credit approval

Reduced house prices were not found to be very influential in encouraging investment among landlords

The gap between what sellers want for their homes and what buyers are actually paying has increased by a further 1.1% in the past year, according to new analysis from Yopa.

First-time buyers and buy-to-let landlords are continuing to benefit from an increase in available mortgage products.

The latest cuts mark the third time in two weeks the lender has reduced its rates on residential products.

The move will see the lender roll out its existing business BTL, Consumer BTL and regulated Family BTL products to Scottish borrowers.

The rate changes follow the introduction of the lender's new fixed-fee Expat BTL product launched in March

The lender has cut rates on its F1 five-year, special Portfolio Landlord-only products by 10 basis points, with rates now starting from 4.89%

The latest changes include three and five-year fixes reducing by up to 0.25%, while two-year fixed-rate products are coming down by up to 0.15%