Pepper Money has cut rates by 50 basis points across its buy-to-let, while Nottingham Building Society is making reductions of up to 35bps on deals for landlords.

At Pepper, the price cuts apply to buy-to-let rates between 70% and 80% loan-to-value, including both two and five-year deals for standard properties and for houses in multiple occupation (HMOs).

Following the cuts, in the Pepper48 Light range, five-year fixes at 70% LTV now start from 3.94% on standard buy-to-lets or 4.14% for HMOs.

Nottingham will be lowering rates on Friday across most of its buy-to-let products for new borrowers.

The biggest cuts of up to 35bps will be for limited company deals.

Standard buy-to-let prices will fall by up to 25bps.

The latest buy-to-let repricing by lenders comes ahead of a wave of remortgaging expected this year.

The Intermediary Mortgage Lenders’ Association estimates buy-to-let remortgage business will exceed £26bn in 2026.

Pepper Money sales director Paul Adams says: “We’re seeing continued momentum in the remortgage space, and landlords are actively reviewing their funding as fixed rates mature.

“By reducing rates we’re strengthening our buy-to-let proposition at a crucial time for brokers and local landlords who are a crucial part of the rental market.

“Competitive pricing is only part of the picture.

“When combined with cashback on remortgages, free valuations on qualifying properties and our flexible underwriting approach, we’re giving advisers the confidence to support a wide range of landlord scenarios.”