Zephyr Homeloans has reduced rates on its five-year, fixed-rate, standard buy-to-let loans.

The specialist lender’s new rates start at 3.19 per cent for up to £1.5m for its five-year, fixed-rate standard buy-to-let mortgages for individuals and limited companies.

It will lend up to £1.5m on its standard range at 70 per cent loan-to-value product and up to £1 million with a 75 per cent LTV.

The Skipton-based firm says there is no upfront application fee, though the products carry a 2 per cent arrangement fee.

The firm says these deals will run for a “limited period”, but have not set a deadline to end the offer, instead pledging to give the market “plenty of notice” if they are altered.

Zephyr Homeloans managing director Paul Fryers says its “‘Spring Special’ on our five-year, fixed-rate product coincides with the peak property buying season.

He adds: “The new rates are one of the lowest in the specialist buy-to-let market today, offering landlords and property investors further product options when considering either plans to purchase a new property or re-finance existing mortgages.”

Last month, Zephyr announced a new 1 per cent product fee option for standard and specialist properties and boosted its range by increasing its minimum LTV limit to 65 per cent across its entire product range, retaining its £1.5m maximum loan size.