The Cambridge Building Society has made rate reductions across its holiday let range and added a two-year fix.

Available at up to 75% LTV, the new two-year fix is priced at 3.69%.

And the lender’s 75% LTV five-year fixed rate has been cut from 4% to 3.79%, while its 75% LTV two-year discount now offers an initial rate of 3.34%, down from 3.39%.

Completion fees across the holiday let range have been cut too – from £1,500 to £999.

The Cambridge adds that it now uses the average of the projected low-, mid-, and high-season weekly rental yields, multiplied by 30, to find the annual rental income.

Head of lending Tracy Simpson comments: “We’re excited to add another great product to our range of competitively-priced holiday let mortgages, as well as making it cheaper for customers to complete.”

In October, the society brought back top-slicing on its buy-to-let deals, allowing landlords to use their other earnings to top-up any shortfall on their rental income calculation.