Rates now start at 3.19% for up to £1.5m for the 5-year, fixed-rate standard buy-to-let mortgages for individuals and limited companies.

There is no upfront application fee and products carry a 2% arrangement fee.

Zephyr will lend up to £1.5m on its standard range at 70% LTV and up to £1m with a 75% LTV.

Paul Fryers, managing director at Zephyr Homeloans, said: “We are delighted to offer a reduced and highly competitive ‘Spring Special’ on our 5-year, fixed rate product, which coincides with the peak property buying season.

“The new rates are one of the lowest in the specialist buy-to-let market today, offering landlords and property investors further product options when considering either plans to purchase a new property or re-finance existing mortgages.”