Following the reductions, the lowest rate now available is 3.39% on Premier two-year fixed products.

New five-year select fixed-fee products start from 5.49% to 5.74%, up to 75% LTV.

Buy-to-let rates begin at 4.05% on two-year products up to 75% LTV.

New data from Reapit suggests that retirees could benefit from a National Insurance exemption on rental income, making buy-to-let investment more attractive for older landlords.

All 2-year fixed BTL rates have been reduced by 10bps to a new low of 3.14%.

Selected two-year fixed Specialist, Holiday Let, and Ex-pat products also received a 10bp reduction.

The new holiday let range expands Vida’s specialist BTL offering.

The lender's Premier like-for-like 2-year fixed rate remortgage is offered at 4.49% with a maximum 75% LTV.

The society's 70% LTV expat BTL product has been reduced by 81bps, now 5.59%.

Redwood has reduced stress rates across residential BTL and commercial mortgage products.