Hodge has cut rates on selected holiday let mortgages by 20 basis points.  At 75% LTV, its five-year fixed with a £995 fee has reduced from 3.95% to 3.75%.

The rate on the fee-free alternative has reduced from 4.1% to 3.9%.

It comes after the lender cut rates on its 50+ and retirement interest-only products by 30 basis points and 20 bps respectively, as well as trimming other holiday let deals by 10 bps in recent weeks.

Hodge business development director Emma Graham says: “It’s no surprise that in a rising rate environment, we have seen an uplift in written business on our longer-term fixed rate products. 

“This is why we have made further changes to our rates to provide a more competitive choice for those borrowers looking to fix their monthly payments for longer.

“The added benefit of the Hodge early repayment promise gives peace of mind that early repayment charges can be waived should borrowers decide to sell their holiday let property during the promotional period.”