The changes include cuts of up to 0.55% on products designed for properties that fall outside of standard criteria, including houses of multiple occupations (HMO), multi unit freehold blocks (MUFB), short-term lets and expat.

The new rates apply to both core and specialist ranges.

The lender’s MUFB two- and five-year fixed-rates, up to 75% LTV have been cut by up to 0.55%, now from 5.84% (2% fee).

Standard HMO two- and five-year fixed rates, up to 75% loan-to-value (LTV) have also been reduced by up to 0.40%, with rates starting from 5.74% (2% fee).

In addition, expat two- and five-year fixed-rates at 75% LTV have been lowered by up to 0.45%, now starting from 5.89%, while short-term let two- and five-year fixed-rates at 75% LTV have gone down by as much as 0.35%, with rates now starting from 6.19% (2% fee).

Foundation has also refreshed rates in its BTL specials range, including its F1 two- and five-year fixed-rates at 65% and 75% LTV, which have been reduced by up to 0.15%, with rates from 4.09% (4% fee).

The HMO two-year fixed-rate at 75% LTV has been cut by 0.10%, now starting at 4.64% (4% fee), while the MUFB five-year fixed-rate at 75% LTV, has been lowered by 0.10%, now from 5.49% (4% fee).

Foundation Home Loans director of product and proposition Tom Jacob says: “This latest refresh demonstrates the breadth and depth of our commitment to the specialist Buy to Let sector.”

“By significantly reducing rates across property types such as HMOs, MUFBs, Short Term Lets, and for expat borrowers, we’re giving advisers even more tools to meet the unique and varied needs of their landlord clients.”

Elsewhere, Vida Homeloans has lowered rates of up to 0.45% on its residential range and up to 0.50% on its BTL products.

The lender has also launched limited edition BTL products at 65% LTV, available with both two- and five-year fixed terms.

The new products come with a 4% fee and rates starting from 3.52%.

Vida Homeloans head of mortgage product management Ross Williams comments: “With swap rates dropping and the base rate reduction to 4.25%, we’re in a position to lower the majority of our rates and pass these savings on directly to borrowers.”