The reductions are to 75% loan-to-value deals in its standard, limited company and house in multiple occupation (HMO) and multi-unit block (MUB) product ranges, all of which come with a 3% fee.

For standard and limited company buy-to-let, the rate has dropped from 5.29% to 5.14%.

Chief commercial officer Steve Cox says: “The rate environment over the last few weeks, particularly in the swap markets, has been fairly turbulent.

“However, given the way we are funded, Fleet is able to move product pricing even when the wider buy-to-let market might be going in the other direction.

“We’ve been able to do that today with these new cuts to our specific five-year fixes which come with a 3% fee, bringing them down by a significant 15 basis points.

“There may have been a lot of noise around the stamp duty changes announced at the Budget, but landlords are a pragmatic bunch, and continue to understand the demand/supply imbalance within the private rental sector, and what this can mean for their existing portfolio, and the ongoing opportunities to secure greater levels of yield and profitability from any new additions.

“In that sense property – at the right price – is going to remain an attractive investment and an asset class that can continue to reward over the medium- to long-term.

“Available for standard, limited company and HMO/MUB landlords, these price cuts will help borrowers in meeting affordability, whether remortgaging existing properties or looking to purchase.”