Specialist lender 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 at 125% across all product options.

This move follows the Bank of England’s Monetary Policy Committee’s decision to reduce the base rate by 0.25% to 4.5%, reflecting a broader industry trend of rate reductions.

Marylen Edwards, director of mortgages at MT Finance, comments: “Our decision to reduce rates across our entire buy to let range reflects both market conditions and our commitment to delivering value for property investors. 

“With rates now starting from 3.19% and our recently launched Tier 2 product at 3.89%, we’re ensuring our proposition remains highly competitive while maintaining our focus on service excellence.”