Precise Mortgages has reduced rates on its buy-to-let range by up to 1.25 percentage points.

Products now start from 3.89% pa.

The average reduction across the entire buy-to-let range is 0.5 percentage points and products are available throughout England and Wales and selected Scottish post codes.

80% LTV products start at 4.49% and there is a range of fixed rate products, trackers and some products with a refund of valuation and free legal packages.

Alan Cleary, managing director of Precise Mortgages, said: “Our buy-to-let range has proved to be very popular and the performance of the loans is impeccable, therefore we are improving the price for our borrowers in order to drive more volume.

“We have a number of product enhancements coming in the next few weeks, which will demonstrate our confidence in the housing market and the intermediary channel.”

Ben Thompson, managing director of L&G Mortgage Club, added: “This is an impressive product offering that appears to build on the good success that Precise Mortgages has had since launch, supported exclusively by intermediaries.

“Buy-to-let continues to be a growth market with many factors combining to make investing in residential property look appealing compared to cash or other options.

“There are not as many lenders properly active in buy-to-let as there are for conventional owner occupied mortgages and this genuine, heightened price competition from Precise Mortgages is a very welcome boost both for intermediaries and the end customer.”