InterBay and Foundation have cut rates and launched new buy-to-let deals.

InterBay has cut rates by up to 20bps on buy-to-let rates for new customers as well as product transfers.

Among the reductions, a two-year fixed rate at 75% LTV for new customers borrowing between £1million and £2million has fallen from 5.34% to 5.14%.

The same product for loans between £2million and £10million has come down from 5.14% to 4.94% and both deals have a 5% fee.

The lender, which is part of OSB Group, has also introduced a 65% LTV tier and a £10million to £25million pricing band with lower rates for those borrowing larger amounts.

Meanwhile Foundation has launched several special products in its buy-to-let range.

These include two- and five-year fixed rate mortgages at 80% LTV for F1, standard HMO and MUFB properties.

Rates start from 5.09% with a 3% fee on two-year fixes and 5.69% with a 4% fee on five-year fixes.

Foundation said it was excited to bring back 80% LTV lending for HMOs and MUFBs.