MT Finance has reduced its buy-to-let mortgage rates by up to 0.50% across all products, including its recently launched Tier 2 range.

The lender now offers rates starting from 3.19% for its two-year fixed standard residential buy-to-let Tier 1 product and 3.89% for its two-year fixed standard residential Tier 2 product. ICR stress testing remains competitive at 125% across all product options.

Another lender, Selina Finance has also announced a cut in pricing across its product range, introducing lower rates across all LTV bands.

Selina has reduced rates across its two- and five-year fixed-rates, and its variable products.

Example rates include a five-year fixed rate, available up to 50% LTV, now with a rate of 6.34% – a 1.55% reduction; and a five-year fixed-rate, available up to 65% LTV, now with a rate of 6.39% – a 1.60% reduction.

Selina has also reduced rates by up to 1% across its high LTV products including its 87.5% LTV, two-year fixed-rate product, which now comes with a rate of 9.09%.

Alongside its rate reductions, Selina has also updated the fees for loans between £10k and £25k to £895.