The change — which will be implemented on 31st March — will apply to all BTL products, including the two-year discounted mortgage priced at 2.74%, the five-year fixed-rate option at 2.99%, and the three-year fixed-rate product at 2.99% — which is only available for existing mortgage customers.

The products are available for landlords who have a maximum of three mortgaged rental properties and who are not deemed portfolio landlords.

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They offer loans between £20,000 and £750,000 for purchases, remortgages, product switches and further advances.

Top slicing is also available to further support landlords.

Dan Barker, product manager at Cambridge Building Society (pictured above), said: “This is great news for landlords looking for the opportunity to purchase with a smaller deposit.

“Our rates are also very competitively priced, include fee-free options and the ability to top slice; plus, as we assess all applications on a case-by-case basis, we can offer as much flexibility as possible.”