Specialist lenders have reduced interest rates across their buy-to-let and residential mortgage offerings.

Property market optimism animates UK specialist lenders as high-street competition leads to major rate cuts for buy-to-let and residential mortgage ranges This move comes as lenders seek to entice borrowers amid an evolving economic landscape and to boost housing activity.

The rate cuts are especially welcome for buy-to-let investors. The industry has struggled in the past few years with tighter tax rules and elevated borrowing costs. But the latest cuts could rekindle demand for rental property investments, providing landlords with less expensive options for financing. This is expected to support the rental market, which is remain highly sought after amid the ongoing housing crisis.

Home buyers are also going to benefit from lower rates that will make owning a home more affordable. First-time buyers especially may find it easier to get foot on the property ladder while current homeowners can take advantage of remortgaging to slash monthly payments.

"These rate cuts are part of a wider trend among lenders who are aligning with market movements and consumer demand. It remains to be seen what the long-term impact of these measures will be, but for now the immediate effect is likely to be increased activity in both the buy-to-let and residential markets, and a welcome boost for the UK property sector.