Abbey for Intermediaries (AFI) is to add four new products and make rate cuts of 0.20 percentage points on its existing buy-to-let range tomorrow.

This follows the Santander brand’s entrance into the buy-to-let market last month.

The four new products are as follows:

* Two-year fix with a rate of 3.39% and a 2.5% fee, available up to 60% LTV to purchasers and remortgagers
* Two-year tracker with a rate of 2.99% (BBR + 2.49%) and a 2.5% fee, available up to 60% LTV to purchasers and remortgagers
* Two-year tracker with a rate of 3.49% (BBR + 2.99%) and a £1495 fee, available up to 60% LTV to purchasers and remortgagers
* Two-year tracker with a rate of 4.09% (BBR + 3.59) and a £1495 fee, available up to 75% LTV to purchasers and remortgagers

It will also be reducing the rates on its existing buy-to-let products as follows, which are also available to both purchasers and remortgagers:

* Rate reduced by 0.20 percentage points on two-year fix at 60% LTV, now 4.09% with a £1495 fee
* Rate reduced by 0.20 percentage points on two-year fix at 75% LTV, now 4.99% with a £1495 fee

All of the purchase products come with the Homebuyer Solution for purchase customers, offering a free basic mortgage valuation and £250 cashback on completion.

Miguel Sard , managing director of Abbey for Intermediaries, said: “We are pleased to enhance our buy-to-let range with the launch of our new tracker and fixed rate deals for purchasers and remortgagers