The rate cuts apply to its five-year fixed deals. Both the standard and limited company products are down by ten basis points, from 3.59 per cent to 3.49 per cent.

Meanwhile five-year fixed rates have been cut on the lender’s Houses in Multiple Occupation (HMO) and Multi Unit Block (MUB) products by 20 basis points from 3.99 per cent to 3.79 per cent.

The standard and HMO/MUB products come with a 1.5 per cent fee while the limited company product has a 1.75 per cent fee.

Steve Cox (pictured), chief commercial officer at Fleet Mortgages, said: “Many landlords are looking to maximise the loans they can achieve and these product cuts to our five-year pay rates will ensure they are even more attractive to borrowers.

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“Whatever property type they are seeking to purchase or refinance, and whatever their borrowing needs, these pay rate deals should be of greater interest.”