A five-year buy-to-let product has seen the largest reduction.

The Society will now accept joint borrower sole proprietor applications across residential, buy-to-let and holiday let.

The new buy-to-let and holiday let products are available for purchase, remortgaging and capital raising.

The rate cuts cover HMOs, holiday lets, and short-term lets.

The lender has reduced HMO and holiday let rates as part of the changes.

Rates are reducing by up to 0.20%.

Reductions apply across the lender's portfolio, expat, holiday let, and HMO products.

Rates have reduced by up to 0.25%.

Rates have reduced by up to 30bps.

Ashley Pearson, head of intermediaries at Loughborough Building Society, explains why holiday lets can be a viable and profitable investment throughout the year.