Newbury Building Society has reduced rates on a limited company buy-to-let mortgage product.

The deal is a 75 per cent LTV three-year fix, which has been reduced from 2.99 per cent to 2.75 per cent.

This offering includes an application fee varying from £950 to £1,500 and is available for both purchase and remortgage.

It also has a maximum loan size of £500,000, early repayment charges set at 2 per cent for the duration of the term, and the maximum number of properties is set at 10.

Newbury Building Society lending manager Roger Knight says: “Following various changes to tax regulations, there has been a noticeable shift in professional landlords choosing to set-up limited companies to take advantage of the corporate tax benefits.

“We hope the improved pricing as well as our flexible approach to lending will give brokers the right tools to support clients in achieving their objectives.”