The two-year fixed-rate option is now priced at 3.70% with a £995 product fee or 3.85% with no product fee.

Meanwhile, the five-year fixes are now available at 3.95% with a £995 product fee or 4.10% with no fee.

The holiday let range offers loans between £50,000 and £1.5m, available for holiday properties in England, Wales and Scotland.

This follows the lender’s recent cuts to its 50+ and RIO mortgage products of 0.30 and 0.20 percentage points, respectively.

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Emma Graham, business development director at Hodge, said: “We are always striving to work collaboratively and listen to the wants and needs of our intermediary partners, and that’s why we have made this rate reduction for our holiday let product. 

“The holiday let market has had a bumper year, with the pandemic and lockdowns restricting holiday choices for many and attracting new people to the market, and as a result, it has been a very popular mortgage product in a very competitive market.

“It is great to be able to offer this rate reduction on our holiday let products, as well as our flexible way of lending and assessing applications on a case-by-case basis, further helping our intermediary partners get their customers the mortgages they need at the right rate.”