Cheshire Building Society has cut the price of most of its fixed mortgages by 0.5%.

The bank is the latest in a string of high street lenders to reduce the costs of the majority of its fixed rate mortgage products. It has announced it will be cutting the interest rates on its two year, three year and five year fixed rate mortgages, its buy-to-let mortgage and the two year re-mortgage it offers.

As well as these cuts, the bank also said it will be reducing the interest rate on its 10 year fixed rate mortgage by 0.3%. The mortgage product manager at Cheshire Building Society, James Taylor, said: "We have slashed rates across the range to provide real value to our members and new borrowers, to suit a variety of needs. As a building society, we are committed to providing our members with great deals and will continue to develop ways in which we can assist them, particularly given the challenging financial market."