The new rates will see a two-year fixed rate cut from 5.93% to 5.71%, up to 75% loan-to-value (LTV) available for remortgage purposes, which comes with no fee, free remortgage legal work and free standard valuation.

The fee-free two-year fix for house purchase has been reduced from 6.06% to 5.84%, up to 75% LTV, with £500 cashback and free standard valuation.

A five-year fix has been lowered from 5.24% to 5.00%, up to 65% LTV, for remortgage with a £495 fee, £250 cashback and free standard valuation.

A two-year fix has been cut from 5.24% to 5.05% for remortgagers, up to 60% LTV, with a £995 fee, free remortgage legal work and free standard valuation.

Accord BTL mortgage manager Simon Garner comments: “We’re pleased to announce this latest in a string of buy-to-let rate cuts since the start of the year, which has been made possible by a further settling-out of market swap rates.”

“Maintaining our support to landlords in this way is a major priority for us at Accord and we will continue to seek out opportunities like this to pass on as much value as possible to them and their clients.”