Santander for Intermediaries has reduced its buy-to-let (BTL) affordability rates.

The lender’s aim is to allow clients to borrow more when buying or remortgaging a BTL property.

The standard affordability rate was 7.15% and will be lowered to 6.99%.

Meanwhile, the five-year fixed and pound for pound (£4£) affordability rates have both been reduced from 5.15% to 4.99%.

Changes will be effective from 12 March.