Lewis Hamilton narrowed Sebastian Vettel’s Formula One championship lead to just a point after claiming a record-equalling fifth British Grand Prix win on Monday morning (AEST).

Mercedes driver Hamilton easily converted his 67th career pole position into a 57th victory as Australia’s Daniel Ricciardo powered his way through the field to finish fifth after starting from 19th on the grid.

Ricciardo went into the race with a five-place grid penalty because he changed the gearbox on his Red Bull car.

Chasing a sixth-straight podium finish, Ricciardo’s Silverstone issues were further compounded when his car suffered a suspected turbo failure during qualifying.

“I just felt like the whole race I was overtaking cars and I hope the fans enjoyed it,” Ricciardo said.

“It was great fun coming back through the field and I gave it everything.

“I’ve been really happy with how I’ve been putting my Sundays together for the last handful of races.

Hamilton celebrates with teammate Valtteri Bottas on the podium. Photo: AAP

“It’s been strong and to get fifth from the back today I really couldn’t ask for more.

“Last week I was the hunted and this week the hunter, I love the fight of this sport and today I felt I could really enjoy that.

“I would give this race ten out of ten in terms of fun.”

Championship standings leader Vettel of Ferrari finished only seventh after a last lap puncture saw him fall from third.

At the halfway stage of the season he leads Hamilton 177 points to 176 with the next race the Hungarian Grand Prix on July 30.

Hamilton’s fourth consecutive home race triumph moves him level with F1 legends Jim Clark and Alain Prost on five wins at the British GP.

Hamilton held his lead to the first corner from pole and quickly pulled away from the pursuing Raikkonen who started second.

Vettel, whose brakes were smoking before the start, lost third to Red Bull’s Max Verstappen.

Hamilton, who took pole by a season-best margin of more than half a second on Saturday, easily had enough pace to leave Raikkonen behind as the laps added up.

“The team were faultless all weekend. Now the plan is to win the championship,” Hamilton said.

Raikkonen needed a late tyre change which appeared to promote Vettel to the podium but disaster struck for the four-time champion on the last of 51 laps.

A front left puncture forced him into the pits and though he recovered as quickly as possible, he lost out to Verstappen, Ricciardo and Renault’s Nico Huelkenberg.