Fleet Mortgages has made rate reductions of up to 44 basis points across all of its seven-year fixed rate offerings.

This means the rate for standard and limited company borrowers is now 4.99% and the product designed for houses in multiple occupation and multi-unit blocks is set at 5.09%.

Both are available at up to 75% LTV and each charges a product fee of 3%, with a minimum amount set at £750.

Fleet chief commercial officer Steve Cox says: “As promised, we said we would continue to monitor swap rates and look at the rates available in the market and make adjustments where possible.

“These are clearly products for landlord borrowers looking for a long-term solution, and those who want that rate certainty up until the end of the decade.

“Towards the end of January, we started to see market activity pick up, and we are here to work with advisers and their landlord clients as they seek their buy-to-let (BTL) finance solutions for the years ahead.”

Last month, the lender made cuts to its five- and seven-year fixes for all types of BTL borrowing.