BM Solutions to cut BTL rates by up to 0.20%

The changes, which apply to all fixed and tracker deals at all LTV levels, follow reductions of up to 0.30% on selected products on 8 February.

Brokers will need to ensure that any applications on the current rates are submitted by 8pm this evening.

As part of the product launch BM Solutions is also introducing some new fixed products at 75% LTV with two product fee options at £995 and 0.50%.

Following the changes, BM Solutions will offer options at four different fee points in the two-year fixed market at 75%.

The lender has also retained a set of products for customers who use the BM Conveyancing service. These products are priced at 0.15% below the core range.

Changes include:

A two-year fix at 5.49% with a 0.50% product fee, available up to 75% LTV and exclusive when taking out BM Conveyancing.

A three-year fix at 5.10% with a 2% product fee, available up to 75% LTV and £790 cashback.

A five-year fix at 5.04% with a 3% product fee and available up to 75% LTV.

Phil Rickards, head of sales at BM Solutions said: "This is our second round of price reductions in as many weeks. By launching some new deals and reducing all rates in the current range, we're really shaking up competition in the buy-to-let market."