As well as this, the lender has removed the £349 fee on its standard mortgage range and buy-to-let tracker range.

Notable reductions include the 60% loan-to-value (LTV) 5-year fix cut by 0.15% to 2.09%, and the 75% LTV 5-year fix by 0.10% to 2.29%; both products do not have fees.

The 60% LTV 2-year fix has also been cut by 0.15% to 1.39%, and the 75% LTV 5-year fix by 0.10% to 2.29%; both offerings include a £1,999 fee.

Michelle Andrews, head of buying a home, said: “With a significant increased demand for rented properties, the buy-to-let market has seen a sharp bounce back in recent months.

“With many people having changed their priorities during the COVID crisis and looking to move out of cities into new areas, renting is a great ‘try before you buy’ option, which is feeding buy-to-let demand.

“We are lowering all rates in our buy-to-let range in addition to removing our £349 product fee, which will make mortgaging or remortgaging with HSBC UK significantly cheaper for amateur landlords.”