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The lender said this was due to an increasing demand for long-term fixed-rate mortgages and a change in the cost of funding.

The reductions include a five-year fixed rate available up to 75 per cent loan-to-value that had been reduced from 6.10 per cent to 5.99 per cent and a five year fixed available up to 90 per cent LTV reduced from 6.54 per cent to 6.43 per cent.

Both products have a £995 fee.

In a statement to advisers C&G said: "From close of business today we will lower the prices of our current mainstream five-year fixed rates as well as our five-year fixed rate plus products.

"Current prices will remain effective until 5pm today, Wednesday 28 May, although applications will still be possible until midnight via C&G Caseflow."