The price reduction, which applies to both the lender’s standard and limited edition ranges, means rates for single dwelling products now start from 2.99% for two year fixed rates and from 4.59% for five-year fixed rates.

Rates for its small HMO and MUFB products, which are suitable for properties with up to six bedrooms or units, now start from 3.09% for two-year fixed rates and from 4.69% for five-year fixed rates.

Products are available up to 80% LTV and are open to personal ownership and limited company landlords. Investors can benefit from free valuations and a choice of fee options across all ranges.

Chetwood Bank group sales director Darrell Walker says: “We’re pleased to announce rate reductions of up to 15bps across our entire buy to let product range.

“This move reinforces our commitment to providing competitive options for brokers and their landlord clients in an ever-changing market environment.”

Elsewhere, Foundation Home Loans has made a series of rate reductions and product additions across its buy-to-let (BTL) range.

Following the Bank of England’s decision to hold the interest rate at 4% last week, and ahead of the forthcoming Autumn Budget, Foundation Home Loans has introduced two-year discount products across popular ranges and reduced rates on its existing ERC3 and discount options.

ERC3 is a five-year fixed rate product which has early repayment charges (ERCs) for only three of the five years.

The lender’s F1 five-year fixed-rate ERC3 product has been reduced by 0.10%, now with a rate of 5.54%. The product comes with a 1% fee and is available up to 75% loan-to-value (LTV).

The F1 two-year discount product has been lowered by 0.05%, now with a rate of 5.94%. It comes with a 1.5% fee and is available up to 75% LTV with no ERCs.

The new launches include the F2 two-year discount product with a rate of 5.99%. It also has a 1.5% fee and is available up to 75% LTV with no ERCs.

And F2 two-year discount products with rates of 6.09% (for HMOs up to six occupants) and 6.19% (for multi-unit freehold blocks). These both have a 1.5% fee and are available up to 75% LTV with no ERCs.

Foundation says the changes offered borrowers more freedom and options if market conditions or their circumstances change.

Foundation Home Loans director of product Tom Jacob says: “Landlords continue to balance opportunity with requirements for ongoing flexibility when it comes to their mortgage finance requirements.”

“That need for both certainty and flexibility remains one of the key priorities we hear from our broker partners in terms of what they can offer landlord borrowers.”

“That being the case these price cuts and the launch of new products are designed to deliver just that. Our two-year discount products with no ERCs and the ERC3 product, which offers a five-year fixed rate but only a three-year tie-in, deliver the kind of adaptable finance structure that landlords need right now.”

Last month, Foundation Home Loans launched new fixed-fee BTL products and a short-term let deal for energy-efficient homes. The lender added several new five-year fixed rate products to its F1 and F2 tiers.

Elsewhere, ModaMortgages, part of Chetwood Bank, has lowered its rates by up to 15 basis points.

The price reduction, which applies to both the lender’s standard and limited edition ranges, means rates for single dwelling products now start from 2.99% for two year fixed rates and from 4.59% for five-year fixed rates.

Rates for its small HMO and MUFB products, which are suitable for properties with up to six bedrooms or units, now start from 3.09% for two-year fixed rates and from 4.69% for five-year fixed rates.

Products are available up to 80% LTV and are open to personal ownership and limited company landlords. Investors can benefit from free valuations and a choice of fee options across all ranges.

Chetwood Bank group sales director Darrell Walker says: “We’re pleased to announce rate reductions of up to 15bps across our entire buy to let product range.

“This move reinforces our commitment to providing competitive options for brokers and their landlord clients in an ever-changing market environment.”