Pepper Money has cut rates by 50 basis points on its buy-to-let rates, while Nottingham Building Society is implementing cuts of up to 35 basis points on deals for landlords.
At Pepper, the price reductions apply to buy-to-let rates between 70% and 80% loan-to-value, including both two- and five-year deals for standard homes and for multi-occupancy homes (HMOs).
Following the cuts, five-year fixes at 70% LTV in the Pepper48 Light range now start from 3.94% on standard buy-to-let or 4.14% for healthcare organisations.
Nottingham will cut rates on most of its buy-to-let products for new borrowers on Friday.
The largest reductions of up to 35 basis points will apply to limited company agreements.
Standard buy-to-let prices will fall by up to 25 basis points.
The latest repricing of buy-to-let loans by lenders comes ahead of a wave of refinancing expected this year.
The Intermediary Mortgage Lenders’ Association estimates that remortgage refinancing activity will exceed £26 billion by 2026.
Paul Adams, sales director at Pepper Money, said: “We are seeing continued momentum in mortgage refinancing, with landlords actively reviewing their financing as fixed rates expire.
“By reducing rates we are strengthening our buy-to-let proposition at a crucial time for agents and local landlords who are a crucial part of the rental market.
“Competitive prices are only part of the picture.
“Combined with cashback on remortgages, free valuations on eligible properties and our flexible underwriting approach, we give advisers the confidence to support a wide range of scenarios for landlords.”