Principality Building Society has announced a series of rate reductions to products within its buy-to-let range.

The lender has cut rates on the 70 per cent LTV five-year fix from 2.49 per cent to 2.37 per cent, and on the 75 per cent LTV five-year fix from 2.55 per cent to 2.42 per cent.

Both offerings have no fees and legals are fee free for remortgages.

The firm says that it accepts up to three BTL applications per customer and it will also accept first time landlords and mortgage applications for new build properties.

Principality Building Society head of products Naveed Mohamed says: “We have improved the pricing on our buy to let range to ensure that our products meet the needs of our clients.

“Our flexible approach will also consider BTL applications for new build properties, which is a growing market.”