Charged at 2.49%, the deal comes with a fee of 2.5% of the purchase amount, making it more attractive to landlords buying relatively inexpensive properties.

The mortgage is available up to a maximum of 60% loan-to-value (LTV).

At the same time, TMW is introducing a two-year fixed-rate deal priced at 3.89% available up to a 75% LTV and another two-year fix priced at 3.89% available up to 60% with free valuation and legal fees. Both come with a £995 fee.

TMW managing director Henry Jordan said:

“TMW is now offering its lowest ever buy-to-let fixed rate, which is great news for both experienced and first-time landlords looking to maximise cash flow and for remortgage customers looking to better their standard variable rate.

“These changes further demonstrate our steadfast commitment to the buy-to-let sector, with landlords being able to secure market leading headline rates across all of our loan-to-value tiers up to 80%.”