Vida has cut rates across its buy-to-let range by up to 40 basis points.

The headline change occurs on the Vida 1 houses in multiple occupation/multi-unit block range, where a 40 basis point cut sees the 70 per cent LTV two-year fix start at 3.29 per cent.

The 70 per cent LTV five-year fix has had 30 basis points removed, bringing the starting rate to 3.69 per cent.

Meanwhile, the core Vida 1 range has had a 10 basis point cut, which brings the 70 per cent LTV two-year fix to 2.89 per cent and the five-year fix to 3.29 per cent.

Additionally, in the Vida Flex product range, the 75 per cent LTV five-year fix starts at 3.64 per cent after receiving a 35 basis point cut, and the 75 per cent LTV five-year fix for HMOs has had 20 basis points cut, bringing the rate to 3.99 per cent.

And the lender has cut 5 basis points on its ex-pat range, which means the 70 per cent TLTV two-year fix now starts at 3.59 per cent and the 70 per cent LTV five-year fix at 3.89 per cent.

Vida manager director of mortgages Louisa Sedgwick says: “Britain’s private rented sector plays a critical role for millions of people across the UK, but just like many others, landlords have not been immune from economic impact of Covid-19.

“The long-term implications of the pandemic have created a new generation of borrowers with impaired access to credit, and many more landlords will need the support of lenders who can help them despite their complex circumstances.

“A strong specialist lending sector that offers competitive rates and innovative solutions has therefore never been more important.”